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HMRC RESEARCH AND DEVELOPMENT RECLAIMS

HMRC RESEARCH AND DEVELOPMENT RECLAIMS2019-09-05T09:17:11+00:00

HMRC RESEARCH AND DEVELOPMENT RECLAIMS

Known as R&D reclaims

The basics

R&D tax relief has been around since 2000 and currently falls within The Corporation Tax Act 2009

Government statistics show only 39,960 claims were paid out in 2016-17 (5.5million SME’s)

£3.5bn claimed last year, £21.4bn claimed since inception

SME’s can claim back up to 33% of qualifying expenditure and 11% for larger companies

The benefit can be claimed as either a cash credit straight to your bank account or a reduction in your tax bill depending upon your position at the end of your financial year end.

As many as 65% of SME’s are not aware this incentive exists…

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