R&D Tax Credits

Rewarding entrepreneurs who seek to push the boundaries

Would £50,000 cash deposited into your bank account make you smile?

Yes, that is the average claim size for companies claiming the R&D tax relief – well it is actually £53,876 if you wish to be specific (this is from HMRC’s published figures).

It is not often that HMRC will put cash into your bank account within six weeks of filing a claim, yet that is exactly what happens for our clients. Many receive these sums (often well in excess and into six figures) each and every year as they continue to invest in developing new or improved products or services. 

In summary, the UK R&D tax credits incentive is one of the most generous tax reliefs currently available in the UK.

It is a vital source of funding for many companies from startups to fast growth companies and international groups.

Big rewards fuelled by expertise

For tax reliefs that are this generous, there are (as you might expect) a number of hurdles that you need to overcome.

Firstly, you need to identify whether you have carried out any projects that fall within the relevant guidelines. If you do have qualifying projects, you then need to explain why and how your projects meet the guidelines plus identify your eligible spend. Finally, you need to include your qualifying spend within your company tax return and file this along with your detailed report with HMRC’s specialist R&D Unit for review and processing – or for them to ask any questions… 

It’s a good job that we’ve been through this process 100’s of times. As qualified accountants, we work directly with companies to help them navigate the rules and prepare and file the detailed report and claim calculations. We also provide support to other accountancy firms. You don’t need to ‘leave’ your current accountants to work with us – we just add to the great work that they’re no doubt already doing for you.

The name "Research and Development" Tax Credits is unfortunate as too many business owners dismiss it out of hand thinking that it can't apply to them. This is a shame as it often does...

Steve Livingston, Founder of IP Tax Solutions

It's not just us saying that we're good at what we do

Al Mackin
Al MackinCEO Formisimo
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I hired IP Tax Solutions to assist us with R&D tax credits. Their thorough analysis and expert advice positively impacted on our tax position. Steve's a great guy to work with and I've turned to him again to assist us with further R&D tax credit projects
Peter Istrate
Peter IstrateCEO of Moxels
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Before meeting Steve (Founder of IP Tax Solutions), we tried to work with a few other R&D specialists but none of them managed to help us. None of them understood what we do therefore, none of them managed to create a compelling and comprehensive claim even though they were all working in the tech/digital industry
Andre Kay
Andre KayMD of VoyagerBlue
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Steve (Founder: IP Tax Solutions) listened carefully to my development story and business journey and was confident that we qualified for R&D Tax Credits. He set about compiling a very detailed application and I'm please to say he was right, having just been notified by HMRC of our success in applying for R&D Tax Credits!

Want to learn more about R&D tax credits?

Our R&D Tax Credits Technical Tool-Kit

We are continually adding to our ever expanding technical tool-kit on R&D tax credits. This includes articles, 'explainer' videos, audio and templates for you to learn more about this tax incentive

Here are our latest updates

HMRC R&D Tax Credit statistics
Innovation tax specialists

How many R&D tax credit claims are filed and for how much?

Play Video HM Revenue & Customs (HMRC) has issued its latest statistics on Research and Development Tax Credit Claims made in the year 2017-18. We summarise the key statistics and insights in the video above but for those who prefer to read – here’s a quick snapshot. Key HMRC R&D Tax Credit Claim Statistics 48,635 R&D tax credit claims filed (so far…) Average SME R&D tax credit claims were over £54,000 Average Research and Development Expenditure Credit (RDEC) claims were over £600,000 £4.3 bn of R&D tax relief provided on £31.3 bn of qualifying expenditure With over 5 million UK

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R&D tax credit how receive
R&D Tax Credits

How will I receive my R&D Tax Credit claim?

How you might receive the benefit of your R&D tax credit relief claim will depend on several factors.  These factors include the tax profile of your company after taking into account the benefit of the enhanced R&D tax deduction. Understanding your company’s tax profile for R&D tax purposes Tax Profile What does this mean? Profitable The company has taxable profits subject to corporation tax Loss-making The company has no taxable profits – it has tax losses Whether your company is profitable or loss-making will have an important bearing on how you will receive the benefit of your R&D tax claim

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