Our R&D team has prepared some helpful FAQs on R&D tax credits.
How much R&D can you claim?
The UK government allows you to claim up to 33% of your R&D costs, even if your project was not a success. Small and medium sized enterprises (SMEs) which are profitable and loss-making can get back up to 33% of the amount they have spent on qualifying R&D. Large companies can claim up to 13% taxable credit.
What is required to support a R&D claim?
CavanaghKelly’s R&D team can help you through every stage of your R&D claim.
We can help you draft all the essential information that is required to support your claim including:
- A short summary that outlines your project.
- The total amount of tax relief your company is claiming
- A breakdown of your qualifying R&D costs
- Your unrelieved trading loss for the claiming period
Who can claim for R&D tax relief?
Our R&D team has a combined 40 years’ experience working with clients in all sectors on their R&D claims.
We have supported clients in the following sectors:
- Wholesale and Retail
This is a non-exhaustive list, so get in touch with our team to discuss your R&D further.
What costs are eligible for R&D tax relief?
Businesses can claim for a range of costs that are involved in the R&D process, including:
- Costs of staff directly involved in the project including salaries, National Insurance and Pension Fund Contributions
- Sub-contractor costs