Are you claiming all the tax reliefs when it comes to Research and Development?

Did you know that Research and Development, and Patent Box expenditure, are treated generously for tax purposes?

Research and Development is usually accepted as expenditure that cannot qualify for tax relief.  However, this is not always the case.

Our team have a wealth of experience in this area, so will help and advise you. We understand the regulations for R&D and the expenditure that qualifies for relief. We know how to make the best use of the Patent Box scheme. This will ensure you are claiming all available tax reliefs that are suitable to your business.

The Patent Box Scheme was launched on 1 April 2013 and is being phased in over a four-year period. The voluntary scheme currently allows companies to pay less tax on income derived from patents. However a percentage of corporation tax will be levied on relevant income once fully incorporated.

We can advise on:

  • Qualifying for additional relief
  • Stipulations on how to claim
  • R&D expenditure approved by UK General Accepted Accounting Principles (GAAP)
  • Related tax guidance and legislations
  • Capital allowance regulations
  • Patent box.

Helping Small, Medium size Enterprises (SME’s)

Following consultation, the government introduced in November 2015 a voluntary Advanced Assurance scheme for small businesses making their first R&D claim.

Successful applicants will receive assurance that HMRC will allow their first three years of R&D tax relief claims without further enquiry.

In addition, there will be new bespoke guidance aimed at smaller companies and more direct communication between HMRC and companies that are already claiming, or thinking about claiming, R&D tax relief. We can help guide you through this process to ensure that you get the best possible outcome.

We feel very strongly about the quality of advice we give, and have a passion for making sure our clients receive the tax reliefs their businesses are entitled too.