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R&D – Are you due a Tax credit

R&D Tax Relief

R&D is a Corporation Tax (CT) tax relief that may reduce your company’s tax bill if your company is liable for CT or, in some circumstances, you may receive a payable tax credit. This guidance is designed to help you make a claim for tax relief if you are an SME.

The Research and Development Expenditure Credit scheme was introduced in the Finance Act 2013 — it enables companies with no CT liability to benefit through a cash payment or a reduction of tax or other duties due.

From 1 April 2015, the relief a company can get has increased to 230% on their qualifying R&D costs. Loss-making companies can in certain circumstances surrender their losses in return for a payable tax credit.

Sign up to eAccounts today and we can review your R&D expenditure for a possible Tax refund.

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