R&D Tax 101

Everything you need to know about R&D tax credits- updated with the latest legislative changes and new merged scheme.

Cover image - R&D Tax 101

R&D Tax 101 helps make securing R&D tax relief for your business more feasible than ever, by simplifying overly technical jargon into your one-stop guide to R&D tax. 

Every day, we speak to companies who don’t believe they qualify for the UK’s R&D incentive schemes. In reality, the definition of R&D for tax purposes is quite broad. This means that it can be applied to diverse projects across most industries. In fact, what HMRC considers as qualifying expenditure can cover a much wider range of activities than you might think.

In our 2024 edition of R&D tax 101, we’ve compiled frequently asked questions to assist in applying or optimising your R&D claims. Notably, this year we have also included updated information on recent changes to the HMRC R&D Tax Relief scheme.

What are the most recent changes to the R&D tax scheme, and how do they affect your business? 

It can be hard to keep up with all the changes in R&D tax law, especially when the impact on certain businesses and sectors can vary.  

Our R&D tax 101 guide includes an all-new eligibility update. This includes a comprehensive explanation of all changes to cost categories, administrative processes, and relief rates. Moreover, our guide features a deep dive into the new scheme’s core differences. It highlights changes in subcontracting cost calculations and the scheme’s direct impact on small and medium businesses. 

By downloading the 2024 edition of R&D tax 101, You can expect to learn up-to-date qualification criteria tailored to your business, with comprehensive timelines of when each update comes into effect.

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

Are you new to the entire R&D tax claim process? Our comprehensive guide provides concise information to help you understand… 

  • The R&D incentive scheme 
  • What qualifies as R&D for tax purposes 
  • The benefits 
  • How to make your claim

Have you claimed R&D tax credits before?  

With the HMRC enquiry rate increasing to 20% from a historic 1% of all R&D claims, understanding your application’s potential pitfalls is more important now than ever.  

These problem areas could include:  

  • Miscalculating claim value. 
  • Providing insufficient evidence to validate your claim accurately.  

Using our guide, you can access detailed specialist advice on de-risking and optimising your claim process and how to best avoid making any of these mistakes.  

At Ayming, we understand your business and what R&D means to you.

Our R&D incentives team understands the complexity and time-consuming nature of claiming R&D tax incentives. Comprised of technical experts such as scientists, engineers, and software developers, we closely collaborate with you to understand your innovation processes and sector intricacies. Our team also includes experienced tax and accounting specialists to provide comprehensive support.

Our unique combination of technical specialism and expertise in R&D tax legislation ensures accurate identification of eligible R&D activity.  

With this in mind, if you have any unanswered questions, please reach out, and we’ll ensure clarity every step of the way.