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R&D Tax Credits

Research and development tax credits are a generous company tax relief that can either reduce a company’s corporate tax liability or, provide a sizeable cash rebate. As such they can represent an alternative, and often vital source of funding.

For small and medium sized companies with profits there is a “super” tax deduction. An SME spending £100,000 on eligible R&D could save tax of up to £24,700. Where the extra deduction creates or increases a tax loss it may be possible to surrender the loss and receive a cash repayment instead; equating to up to £3,335 for every £10,000.

The regime for larger companies is less generous, but nevertheless very worthwhile. Large companies can receive taxable credit of 11% (12% after 1 January 2018) of qualifying expenditure under the R&D Expenditure Credit “RDEC” scheme.

To be able to qualify a company needs to be undertaking qualifying R&D; but its not just about white coats and test tubes. We submit claims across a diverse range of sectors including manufacturing, electronics and engineering, computer software, biosciences, medical devices and food.

HM Revenue & Customs is eager for companies who conduct qualifying R&D to claim and has specialist "Incentives and Reliefs" teams who handle R&D claims. The James Cowper Kreston tax team  keep in regular contact with the specialist teams. This, coupled with our experience and knowledge of the tax law, ensures our clients are getting clear and up-to-date advice.

We could do the same for you. In the recent past James Cowper Kreston has claimed R&D tax credits on over £150 million of our clients’ expenditure. We know how to help.

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