Research and development

Helping businesses claim Research & Development cash tax benefits faster

Caroline Hunt, Director, Corporate Tax 
18/02/2019
Research and development
HMRC have joined the 21st century and started piloting a new on-line service to help businesses expedite the repayment of their R&D cash tax benefits.

At the moment the new service is only available to SMEs, but there are plans to extend it to all companies.

What are Research & Development (R&D) cash tax benefits?

For every £100 of R&D spend:

  • Loss making companies can claim up to £33.35 cash from HMRC
  • Profitable companies can reduce their tax bill by up to £43.70

Could your business benefit?

The answer could be yes if your business is doing any of the following:

  • Developing new or improved products or processes
  • Investing in technology, including the development of new or improved software when used:
    • For sale or licencing including the development of Apps and platforms etc.
    • As part of a product, process, tool or device
    • To make your business run more efficiently (e.g. the development of improved stock control system, new document management system etc.)

Can we help you?

We are looking for businesses who want to be part of the pilot scheme and hopefully benefit from claiming R&D cash benefits faster.  If this interests you please contact Caroline Hunt or your usual tax advisor.


Any companies can qualify if you are:

Product   Coins     Cog
Developing new or improved products or processes.   Investing in technology, including the development of new or improved software when used:    Investing in software to make your business run more efficiently.
  • Manufacturing: both products and processes.
  • Food and drink: products and processes.
  • Audio visual and sensory related technologies.
  • Property, construction and engineering.
 
  • for sale or licencing
  • as part of a product, process or device.

Examples:

  • Development of apps, tools and platforms.
  • Data analytics e.g. in the medical and financial sensory etc.
  • Data security/E-learning.
 

Examples:

  • development of a new improved client relationship management system (CRM)
  • development of a new or improved document management system (DMS).
  • improved stock control system
  • Improved warehousing system.

Contact us

Caroline Hunt
Caroline Hunt
Director, Corporate Tax
London