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MedTech

R&D in MedTech is scaling with digital transformation, leading to improved patient care outcomes, new processes powered by efficient equipment, and reduced wastage from technology-powered supply chain management. There are hundreds of projects taking place within the landscape of pharma, BioTech, and HealthTech domains, however, they are heavily reliant on investment opportunities due to the high costs of these projects. R&D tax relief allow these companies to receive some money back for their efforts so they can keep investing in their own project.

Overview

Qualifying at a Glance

Innovation in pharmaceutical and MedTech is all about pushing the boundaries of what’s possible to improve patient outcomes, enhance healthcare delivery, and transform lives. Some examples include:

  • Speeding up drug development -Involves the integration of technology, data analysis, collaboration, and regulatory adaptations to accelerate the process of bringing safe and effective therapies to patients in need.
  • Increased authority over personal health – Transforming the relationship between patients and healthcare professionals with wearable devices to check heart rate, glucose levels etc, and AI-powered chatbots for medical advice. This leads to reduced wait times to seek medical assistance.   
  • Improved products – Using technology to create improved products that transform patient outcomes such as hand sanitisers, ventilators, wearable devices, pacemakers, and more. 
  • Reduced mistake-making with accuracy from AI – Utilising AI-powered algorithms to accurately monitor disease progression, and the success rate of drugs, and create opportunities for early diagnosis.  
  • Transformed pharma manufacturing process – Reducing material costs of manufacturing or clinical trials or maybe creating efficiency with a robotic arm or new automation.
Workers are operating a MedTech equipment.

You are in a strong position to qualify for R&D claims if you have:

Created something new
Designed a different process
Improved an existing product in an appreciable way

Ask Yourself

  • Did you conduct R&D activities to develop new products, processes, or services or to improve existing ones?
  • Did the R&D activities involve the resolution of technical uncertainties or challenges that could not be solved by using existing knowledge?
  • Did your products or services require extensive trial and testing throughout the creation process?

If you are answering yes, you may qualify to claim back up to 33.4% of eligible R&D expenditure through HMRC’s R&D Tax Relief Initiative. Contact one of our R&D tax credit specialists to seek further advice on how to proceed with your R&D claim.

Do I Qualify

The claim process

We understand the complications that can often arise when completing an R&D claim, not to mention the significant amount of time it can consume, diverting your attention from driving your innovation forward. That's why we have streamlined a transparent and hassle-free process that follows a step-by-step approach from start to finish.

Throughout your R&D claim process, we maintain open lines of communication tailored to your preferences. Once we have compiled comprehensive technical and financial reports, we take the responsibility of submitting them and proactively follow up with HMRC, leading the communication on your behalf. Often, our next contact with you brings the exhilarating news of success and positive outcomes.

Step 1

We'll gain your authorisation via our client instruction form/NDA. This will enable us to discuss your R&D activities along with your current tax position.

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Step 2

We'll analyse the profit & loss (P&L) statement of the business while facilitating your technical call. This step aims to determine whether your case is feasible from both technical and financial perspectives.

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Step 3

Once our experts are confident that your case meets the R&D eligibility criteria, we will then gather all the required technical information and financial documentation according to HMRC's standards to support your case.

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Step 4

At this stage, we initiate a stringent compliance procedure that we have developed in-house to audit your R&D claim application. We verify whether it meets the defined standards before submitting it to HMRC to ensure a positive outcome.

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Step 5

After conducting a comprehensive review of your R&D claim, including all required documentation, the application will be forwarded to HMRC for further processing.

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Step 6

Our team maintains continuous contact with HMRC regarding your case. If any queries arise, we address them on your behalf using a highly systematic approach to maximise your outcome while minimising any delays in your repayment.

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Get Started

Our hassle-free and streamlined process is waiting for you to get started and to make you feel confident throughout your R&D claim application.
0161 457 8100 Start your claim

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.