Governments around the world have schemes in place to help fund innovative projects or research and development (R&D). These R&D tax incentives are proven to help stimulate the economy, jobs, and skills creation. The UK is no different with several schemes available to companies engaged in innovative projects in Britain, including the SME scheme, the RDEC scheme, and the merged scheme introduced for accounting periods beginning on or after 1 April 2024.
Is my business eligible for R&D tax incentives?
We speak to companies every single day who don’t believe the R&D incentive schemes apply to them. In reality, the definition of what qualifies for R&D tax relief for tax purposes covers a much broader range of activities than you might think, and it’s very likely that some of your projects will qualify too.
UK R&D tax incentives aren’t just for scientists in white lab coats. They’re designed to apply to all industries and sectors. Some of our most innovative clients are construction companies, shoe manufacturers, and software developers. If your work involves overcoming scientific or technological uncertainty, there’s a strong chance it qualifies for R&D tax relief.
Take a look at R&D incentives explained to find out how they apply to your business.
With over £1 billion of benefit received by our UK clients, we’re well placed to guide you through this niche area of tax. We work with companies of all shapes and sizes and across a wide variety of industries to ensure their business enjoys the maximum financial rewards available through R&D claims.
HMRC relationship
We pride ourselves on our excellent working relationships with the tax authorities who oversee the schemes on which we provide advice. Our consultants have worked with HMRC on claims for a number of years, being heavily involved in the R&D incentive schemes since their inception. Furthermore, we play an active role in the HMRC R&D Communication Forum (R&DCF).
Our service doesn’t end with submitting your claim. Instead, we work with you and HMRC, safeguarding that your claim processed correctly and efficiently.
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Our consultants
We know first-hand how time-consuming and complicated claiming R&D incentives can be, which is why your R&D incentives team is so important. That’s why, At Ayming, we are not just tax experts; first and foremost we are technical experts. By employing scientists, engineers, software developers and other technical specialists, we can work with you to genuinely understand what you do and how you innovate.
We believe it’s vital to understand the technicalities of your projects, business and industry, alongside the complexities of R&D tax legislation. Consequently, you can expect our technical experts to be complimented by experience and qualifications in tax as well. Moreover, we also employ accounting specialists, to ensure that we have all bases covered. To us, it is the only way to ensure all eligible R&D activity is correctly identified and your claims are optimised.
Your trusted R&D incentives partner
Ayming is Europe’s largest R&D incentives advisor. As a professional services company, Ayming partners with businesses and institutions around the world to unlock lasting value, year after year. We have specialised knowledge and decades of experience in international and local policy in 14 countries across Europe and North America. Our premium services create new possibilities for investment. And our approach goes beyond consulting, collaborating in the field with clients of all sizes and sectors. So we can deliver tangible results driven by trust – now and for years to come.
Our group level statistics
In the UK, we work with hundreds of SMEs and Large Companies every year, helping them make the most of their research and development. This isn’t just about filing R&D claims. We work with finance and technical staff to understand our client’s business, goals and objectives, and then uncover qualifying R&D activity and eligible expenditure.
Helping our clients with their R&D incentive claims is just one part of our innovation service offering. We act as an innovation partner to the majority of our clients. So, not only do we help with your R&D incentive claim, we advise on best practices to help with future claims.
Additionally, we advise on optimisations to business processes for long-term growth. So, how you can strategically approach future innovation and how you can utilise R&D tax credits to improve cash flow.
Get in touch today to find out more!
