Tax Relief for Innovations
As of 30 June 2020, there have been 59,265 R&D tax credit claims for 2018-19, of which 52,160 are in the SME R&D scheme. This is based on partial data for the year and expected to increase as more returns are received.
£5.3bn of R&D tax relief support has been claimed for 2018-19, corresponding to £35.3bn of R&D expenditure.
WHAT IS RESEARCH AND DEVELOPMENT TAX RELIEF?
Research and Development Tax Relief (RDTR) is designed to encourage UK companies to spend more money on research and development, leading in turn, to greater investment in innovation. The relief works by rewarding those companies spending money on R&D projects with corporation tax savings, corporation tax rebates or corporation tax credits.
There are two R&D regimes in the UK: the SME regime and RDEC (Research & Development Expenditure Credit). Despite RDTR benefits having been available for some time, many innovative companies are still not aware of it.
The relief can help fund developments needed to keep a company competitive and are claimable by not only profitable companies liable to corporation tax but also by loss-making companies who can benefit from the relief by claiming a tax credit; a ‘free’ cash injection.
RDTR is claimable by any company engaged in projects where the aim has been to achieve an advance in a field of science or technology. The relief exists to reward companies that incur expenditure in the development or appreciable improvement of products, processes, systems and materials.
What our clients say about us
We were extremely happy with the professional service we received from R & D Reclaims. Their staff dealt with our claim in a timely manner, offering us advice and Elizabeth (Client Relationships) was great, communicating with us along the way and offering support in anything we were unsure of. As this was our first claim, we were unsure of the process, but we were pleasantly surprised by how easy this was. This was due to R & D Reclaims handling everything so well and payment for the claim was received promptly.
Globe Heat Treatment – Joanne Hilliard
The team at R and D Reclaims Ltd dealt with our R & D Tax Relief claim in a professional and very efficient manner. Their technical knowledge and claim management expertise is a credit to them. Elizabeth (Client Relationships), Zeinab (Tech Consultant) and Susan (Operations Manager) were instrumental in the submission and successful conclusion of our claim, which only took around 4 weeks in its entirety. We would definitely recommend R & D Reclaims.
Personal Refrigeration – Michael Bickett
What might have been a lengthy and drawn-out process for the inexperienced, was made so easy and straightforward by R&D Reclaims. A truly professional company, they provide an excellent way to fund research projects into novel and unique manufacturing and production systems. Looking forward to receiving further assistance from R&D Reclaims in the near future.
JWS Building Services – Tony Ward
We're delighted with the service we receive from R&D Reclaims. The whole process is an incredibly positive one, the people are great to deal with and the money we have received has facilitated some important reinvestment.
BM3 Architecture – Neil Walker
I was approached by R&D Reclaims to look into my R&D. I was a little sceptical at first but after the process was explained by the knowledgeable staff, I was excited to see what I could claim back! I was incredibly pleased to receive a sizeable benefit from HMRC after only a few short weeks. The overall service that I received from all at R and D Reclaims was thorough and professional. I would recommend any company to look into a claim with this company.
Lansgrove – Guy Plant
Most unusually I am slow in acknowledging the assistance you and the team made with our R&D claim, the claim has been most satisfactory and welcome in such times. As you are more than aware, I, like the rest of the team was very sceptical about this and did not expect it to be successful. Now with our eyes fully open to the opportunity, we look forward to many further claims with yourselves.
Brook and Mayo – Paul Scattergood
Excellent! To say we are pleased is an understatement. I will most definitely be recommending you guys to others for future R&D claims!
Nicola Barden, Managing Director – BSF Solid Surfaces Ltd
We had no idea we could qualify for a claim and were surprised and delighted by the result R&D Reclaims achieved for us. Great service and the money, which we have reinvested into further development, has made a big difference to our business.
Charles Richards, Managing Director – Arcoframe Ltd
Our work with the company started with a few emails, involved a face-to-face meeting at our office in Aberdeen and, to our amazement, our first claim paid out for around £47k. We’ve found the process to be clear and the staff efficient and supportive of Caledonian. We are keen to keep R&D Reclaims as an active part of the business going forward.
Derek Mitchell, Managing Director – Caledonian Logistics
R&D Reclaims delivered above and beyond my expectations and I have no hesitation in recommending them in the highest regard.
Sadie Hubbard, Director – Earthmover Tyre Solutions Ltd
"The team at R and D Reclaims are professional and highly skilled specialists who were able to increase our R&D Tax Relief claim by over 250%! We have been delighted with their technical knowledge, costing expertise and understanding of the HMRC Tax Relief Scheme. They managed the entire R&D tax credits claim for us from start to finish and only required 2 to 3 hours of our time. They did a great job for us, went the extra mile and were very responsive. They made the whole process simple and trouble-free and provided excellent value for money."
Paul Rushmer, Director – SVM Consulting Engineers