R&D Tax 101

Everything you need to know about R&D tax credits - includes 2023 changes to the HMRC R&D Tax scheme

Cover image - R&D Tax 101

We speak to companies every day who don’t believe the UK’s R&D incentive schemes apply to them. In reality, the definition of R&D for tax purposes covers a much broader range of activities than you might think, and some of your everyday activity could likely qualify as well.

The schemes weren’t only created to incentivise scientists and the more traditional ‘research & development’ heavy industries. They’re designed to apply to all industries and sectors. The definition is deliberately broad so that companies from various sectors can apply the same definition to their own projects. In fact, some of our most innovative clients are construction companies, shoe manufacturers, and software developers.

We understand your business and what R&D means to you.

We know first-hand how time-consuming and complicated claiming R&D tax credits can be, which is why it’s vital to have the right people working on a claim. Our team aren’t just tax experts; most have worked in a technical role within their respective industry. The team comprises scientists, engineers, software developers and other technical specialists; we can work with you to genuinely understand what you do and how you innovate.

Having a solid technical understanding of your projects, in conjunction with R&D tax expertise, is the only way to ensure your claim is optimised. Besides sector experts, we have experienced, qualified tax and accounting specialists, ensuring that we have all bases covered.

We’ve compiled some of our clients’ most frequently asked questions into our handy R&D Tax 101 guide. So, whether you’re looking to make your first claim or optimise your existing processes, we’ve got you covered. If you have any questions that aren’t included, please get in touch!

Are you claiming R&D tax credits for the first time?

If you’re thinking about claiming R&D tax credits for the first time, then make sure you download our ‘R&D Tax 101’ guide and cover all your bases. You’ll find out precisely what the R&D incentive schemes are all about, how HMRC defines R&D for tax purposes, and what activities do (and don’t) qualify. Most importantly, you’ll find out how to claim R&D tax credits.

Have you claimed R&D tax credits before?

If you’ve already claimed for R&D tax credits in the past, then we can provide our top tips for optimising your claim in our R&D Tax 101 guide. We see many companies failing in at least one of the categories below:

  • Not claiming all relevant costs.
  • Claiming more than you should be and opening yourself up to an HMRC enquiry.
  • Providing insufficient substantiation.

If any of these strike a chord, then download our R&D Tax 101 guide and find out how to optimise your claim.