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Can I still claim for R&D if my company hasn’t yet turned a profit?

You are still eligible to make a claim if you haven’t turned a profit just yet. With SME R&D relief, even if your company is experiencing a loss, you can receive a tax credit worth up to 14.5% of the surrenderable loss. Additionally, you can deduct an extra 130% of qualifying costs from your annual profit, in addition to the standard 100% deduction, resulting in a total deduction of 230%. As a loss-making company, this means you have the potential to receive a cash benefit of up to 33% for every pound spent on R&D.

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Your guide to
R&D tax credits

Gain access to valuable insights from our experts in R&D tax credits, empowering you with essential information to ensure a successful claim, ultimately injecting funds back into your account.