Claiming R&D Tax Credits Made Easier
This is the future of science and technology
Claiming R&D tax credits provides your business with valuable benefits for undergoing innovative research and development. By claiming UK R&D tax relief, you can recover a portion of your investment. Giving you the opportunity to invest in new ideas and tackle challenges with confidence.
No Win, No Fee - We won’t charge until you receive your entitlement
Winning at every step - Very high success rate with HMRC
Your R&D tax advocate - Unwavering support from start to credit
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What is an R&D Claim?
An R&D claim is the process of compiling and submitting an application to HMRC to receive R&D tax credits for your work in driving innovation in your industry. The R&D tax credit relief is a government incentive designed to support businesses that are investing in cutting edge research and development. By providing businesses with financial benefits, the UK government is ensuring that innovation in science and technology are contributing to a steady economic growth.
What are R&D qualifying costs?
Staff PAYE costs
You can claim PAYE, Class 1 NIC and pension contributions for staff directly involved in R&D.
Subcontracted costs
Your business can claim costs made to external agencies contracted to carry out R&D activities.
Consumable items
You can claim costs for utilities and materials that were used during qualifying activities.
Software
Your business may claim costs for software that was used directly in research and development.
Prototypes
You can claim costs for the design, development and testing of prototypes not intended for sale.
Collaborative work
When your business collaborates on R&D, you can claim costs for your portion of the project.
Our process of claiming R&D tax credits
Technical Consultation
In this step, we undergo a brief technical consultation so that we can understand the scope of your project and assess whether or not it qualifies for R&D tax credit relief.
Claim Compilation
Through close collaboration, we identify qualifying activities and costs while gathering key information to support your claim. We compile the necessary documentation to develop a strong technical narrative and financial report that supports your claim.
Review and Submission
Following your approval, we submit your claim to HMRC on your behalf. We then keep track of your application through HMRC’s process, and liaise with HMRC to ensure a swift turnaround.
Receive Your Benefit
You receive your entitlement in the form of a cash benefit paid into your bank or a Corporation Tax reduction. HMRC aims to process 85% of claims within 40 days of submission, although many clients have received their R&D tax credit benefits within 30 days.
Why Alexander Clifford?
We focus on your R&D claim, you focus on your innovations.
We are your dedicated partner in streamlining the intricate process of claiming R&D tax credits. With years of experience and a strong track record of success with HMRC, we specialise in guiding businesses through the complexities of securing R&D tax credits confidently. Our tailored approach focuses on understanding your unique operations and innovations, ensuring a personalised approach to maximise your R&D claims. With a deep grasp of tax regulations and incentives, we take care of the paperwork and research, allowing you to stay focused on what matters the most. We're not just about claiming credits, we're about maximising them.
Our success stories
We acknowledge the significance of genuine client feedback when selecting the right company to partner with.
Isabella was very professional, I was very impressed by the research she had conducted on my company prior to our call. She had a very good grasp of my technology, developments and all the questions she asked to confirm what she had researched proved she had done her background research professionally and throughly. A true professional who doesn’t beat around the bush and gets straight to the point.
LinkedIn Recommendation
Andrew provides reliable support through all the necessary steps to get a successful return on investment in R&D. I am really pleased to use his service.
LinkedIn Recommendation
As my company had been involved in research for many years I had intended to claim R&D tax credits. However the process looked time consuming and complex. The team at Alexander Clifford patiently and efficiently guided me through, to make a successful and worthwhile claim.
Rob C
I cannot recommend this firm enough! Their expertise in preparing R&D tax credit claims has been invaluable to our business. They are professional, knowledgeable, and always go above and beyond to ensure that we receive the maximum benefit possible. Thank you for all your hard work! Especially Jamie and Benjamin!
Raymond Wong
Dealing with Alexander Clifford for my R&D tax credits was a breeze and pleasure from start to finish. Their team are amenable, extremely knowledgeable and professional, and their claim process was very fast and efficient. I would highly recommend them to any company looking to take advantage of the scheme and we’re very much looking forward to working with them again in 2023. 5 stars all round.
Gary Jackson
The team at Alexander Clifford (Ben, Jamie, Josh, Andrew) have been incredibly helpful and professional in guiding us through our R&D tax credit claims. Their knowledge of the rules and process has undoubtedly saved us much time in preparing and submitting our claims. A pleasure to work with.
Phil Spratt
Isabella was very professional, I was very impressed by the research she had conducted on my company prior to our call. She had a very good grasp of my technology, developments and all the questions she asked to confirm what she had researched proved she had done her background research professionally and throughly. A true professional who doesn’t beat around the bush and gets straight to the point.
LinkedIn Recommendation
Andrew provides reliable support through all the necessary steps to get a successful return on investment in R&D. I am really pleased to use his service.
LinkedIn Recommendation
As my company had been involved in research for many years I had intended to claim R&D tax credits. However the process looked time consuming and complex. The team at Alexander Clifford patiently and efficiently guided me through, to make a successful and worthwhile claim.
Rob C
I cannot recommend this firm enough! Their expertise in preparing R&D tax credit claims has been invaluable to our business. They are professional, knowledgeable, and always go above and beyond to ensure that we receive the maximum benefit possible. Thank you for all your hard work! Especially Jamie and Benjamin!
Raymond Wong
Frequently Asked Questions
You have the flexibility to make an R&D tax credits claim at any stage of the R&D process, not solely at the project's conclusion. As long as there are eligible expenses within the financial year you are claiming for, you can submit the claim. Ongoing projects can be claimed across multiple years or even retrospectively, with a two-year window for making amendments.
All R&D claims must be accompanied by a completed CT600, as well as a full computation. The reason for this is to prevent penalties and, essentially, to reduce the chances of receiving rejections from HMRC.
The R&D tax claim has a time limit of two years from the conclusion of your accounting period. Within this period, you must submit your application for all eligible expenditures identified during that specific timeframe. This is because R&D tax credits fall under Corporation Tax relief, and the usual deadline for amending your Corporation Tax return is 24 months after the conclusion of your accounting period.
It’s natural for R&D projects to take a few years to complete. You cannot reuse as previous R&D tax credit claim. You cannot recycle or reuse a previous research and development (R&D) tax claim. Each claim must be assessed independently, considering the eligibility of your qualifying R&D activities and expenditure. However, if your work is ongoing and continues to address technological or scientific uncertainties, a single project can span multiple years for claiming purposes.
The standard deadlines for filing and amending company tax returns are as follows:
1. The absolute deadline for making R&D tax credit claims is within two years of the accounting period in which the R&D expenditure being claimed is incurred.
2. Profitable companies that are aware of the R&D Tax scheme typically prepare an R&D claim within 9 months and one day of the accounting period end when any tax due needs to be paid. This applies to both SME and RDEC claims, and the claim helps reduce the tax liability.
3. For loss-making companies claiming an R&D Tax Credit or an RDEC payable credit, it is beneficial to submit the claim as soon as possible to improve cash flow.
Your accountants can support your R&D tax claim application, provided their knowledge is up-to-date with how to submit an R&D claim as well as the latest roll out of changes to the rates. R&D tax credits demand a thorough understanding of your industry and the R&D initiative to uncover the complete scope of your claim, and potentially, receive your reward.
The method of receiving your R&D tax credits benefit depends on the specific R&D scheme you use for the R&D claim and your company's financial situation. Your preference may also play a role in the decision. The benefit can be received in various ways, such as a cash payment, a reduction in Corporation Tax, carrying forward or back an enhanced loss, or a combination of these options.
Your guide to R&D tax credits (eBook)
Our team of R&D tax credit specialists has developed a comprehensive guide that serves as a vital resource for businesses aiming to capitalise on the potential of research and development tax relief.
