02081234768

We do Tax planning.

We do Xero.

We do R&D Tax credits.

We do HMRC investigations.

We do Capital Gains Tax.

We do Business restructuring.

TaxQube™

R&D Tax Credits

Imagine if you had an extra £60,000 to invest in your business. This is our average R&D tax credits claim value and our largest R&D claim was £1,200,000 for a software development company.

We act as your company’s R&D technical department to help you maximise your R&D claim.

Get Rewarded For Problem Solving

Product | Process | Performance

Research and Development Tax Credits are a UK tax incentive scheme created by the UK government to encourage companies to invest in R&D. Companies can lower their tax bill or claim cash back as a proportion of their R&D expenditure.

If your company is creating new products, new processes/services or modifying existing products to improve performance there is a good chance that your company qualifies for R&D tax credits.

 R&D can take place in any sector regardless of the company size. It could be in everything from a bakery to a chemical engineering company, construction to the software development.

Growth with R&D Tax Credits | TaxQube™

We have experience of over £12M claimed in R&D across a number of industries. We are experienced in dealing with complicated claims and maximising returns for our clients.

We are proud to say that we have maintained a 100% Success rate. We work on a no win no fee basis and only charge you when the claim is fully approved by HMRC.

Over the years we have refined our claims process to quickly identify qualifying elements. We process your claim within 4 – 6 weeks unless there are circumstances outside of our control.

R&D Tax Credits Explained – FAQs

  • What are R&D tax credits?

    Research and Development Tax Credits are a UK tax incentive scheme created by the UK government to encourage companies to invest in R&D. Companies can lower their tax bill or claim cash back as a proportion of their R&D expenditure.

    Most eligible companies think that they don’t qualify for tax credits as the word “R&D” is generally associated with people in white coats. However, in reality, the rules are much more relaxed and we have seen qualifying problem solving in almost every industry.

  • Is my business eligible for R&D tax credits?

    1. Be a limited company in the UK that is subject to Corporation Tax.

    2. Have carried out qualifying research and development activities.

    3. Have spent money on these projects.

  • How do R&D tax credits work?

    Companies that spend money developing new products, processes or services; or enhancing existing ones, are eligible for R&D tax relief. If you’re spending money on your innovation, you can make an R&D tax credit claim to receive either a cash payment and/or Corporation Tax reduction.

    The expertise of an R&D professional is in the ability to identify qualifying activities by talking to you. R&D exists in every single sector, however it does need technically skilled people to identify and maximise your claim. And if you’re making a claim for the first time, you can typically claim R&D tax relief for your last two completed accounting periods.

  • How much can I get from HMRC? 

    Depending on your company’s profitability the credit is paid as follows:

    Profit making company: For every £1 spent on qualifying expenses, HMRC give a credit of 24.7p

    Loss making company: For every £1 spent on qualifying expenses, HMRC give a credit of 33.3p

    In other words, if something is costing you £100, you can get back either 25% or 33% of that expense back from HMRC. Therefore, after HMRC’s credit you are effectively paying less in expenses.

    You can use our R&D tax credits calculator below to get an estimate of how much you can get back from HMRC.

  • Can I claim R&D tax credits as a sub contractor?

    Dealing with subcontracting is a complex area. However, you can still make an R&D tax claim. You can claim 65% of the payments made to the subcontractor unless you’re part of the same group.

    We also consider the following factors:

    Contract details

    Who is undertaking the risk and uncertainty  

    If you are unsure about whether your sub-contractor cost qualifies for the relief, you can contact us and we’ll be happy to check this for you.

  • Can soletraders and charities claim R&D tax credits?

    No, only UK registered limited companies can claim. If you think you are likely to be eligible in the future, we recommend switching to a limited company to protect your future eligibility position.

    Past eligible activities are unfortunately non-claimable.

  • Do grants affect R&D tax credits?

    You can still claim however, it is possible that you are required to claim under the RDEC scheme (Research and Development Expenditure Credits) which is otherwise known as the large company R&D scheme.

  • Can I refer business to you?

    Yes, you can. Please complete the contact form on the website and ask for our introducers’ agreement.

Most of our clients have received an uplift in the amount they get from HMRC when they switch to us.

Speak to one of our advisors today!

R&D Tax Credits Explained – Technical FAQs

  • Can I backdate R&D tax credits claim?

    Yes, you go back up to two accounting periods. Any eligible projects prior to that period are non-claimable.

  • Can I claim R&D tax credits on failed and unsuccessful projects?

    Absolutely, R&D tax credits are payable regardless of whether a project is successful or not. It is a common misunderstanding that R&D is only payable on successful projects.

  • Can I claim R&D tax credits on unfinished and incomplete projects?

    Yes, projects that stretch over a number of accounting periods can be claimed in all of those accounting periods as long as the risk is still associated with the project.

    We mark projects as “ongoing” in our reports to HMRC until they are finished or the risk disappears.

  • Do overseas projects qualify for R&D tax credits?

    Yes, you can claim R&D tax credits on overseas projects. The location of the project is not a factor considered to establish eligibility to R&D tax credits.

    It is important to understand the company must be subject to UK corporation tax. Overseas expenses linked to R&D eligible project are included in the claim.

  • What expenses cannot be claimed for R&D tax credits?

    The following expenses are not eligible for R&D tax credits:

    Capital expenditure
    The cost of patents and trademarks
    Rent or rates
    Bulk production and distribution of products and services
  • How the R&D tax credits claim is submitted to HMRC?

    The claim is submitted to HMRC along with the company’s corporation tax return. If you have already submitted the return, we can amend it to include the R&D claim.

    We have simplified the R&D for our clients. We always prefer to meet where possible and put you through a refined process to identify and claim R&D tax credits.

    Scroll down this page to see a simple 1 – 2 – 3 approach to complete our process.

    Meet | Discuss | Receive

R&D Tax Credits Calculator

Innovation | Refunds | Growth

In our experience companies that submit their R&D tax relief claims themselves, or through a non-specialist accountancy firm, often end up significantly under-claiming.

This R&D tax credits calculator only gives a rough estimate of the potential corporation tax relief that you may be eligible to claim.

Enter zero (0) where applicable

Profit Making Loss Making
£100,000 £200,000 £300,000
£20,000 £30,000 £40,000
£50,000 £100,000 £150,000

Result

Your estimated corporation tax saving or R&D tax credit payable.

Why not find out exactly how much you can get back from HMRC, contact us and we’ll even offer you free consultation.

Your estimated corporation tax saving or R&D tax credit payable.

Why not find out exactly how much you can get back from HMRC, contact us and we’ll even offer you free consultation.

Understanding R&D Tax Credits

Innovation | Refunds | Growth

Understanding R&D Tax Credits and Relief

Our technical team is here to help you.

Speak to one of our advisors today!

1. Meet

We understand that every business is different and therefore, requires a bespoke methodology that works for them. We meet with the company directors and the technical team (if applicable) to gather information. Prepare brief summary of what we identify as eligible R&D.

We also get the agreement signed by company director to complete our formal appointment.

R&D Tax Credits | Free Tax Advice 100% Success Rate | TaxQube™

2. Discuss

Now we want to know more about the points we identified in the first stage. We will ask you questions about the project and check it against the legislation. Don’t worry, we don’t speak the legal language but it is important to make sure that we are satisfied with the project to ensure eligibility to R&D funding.

We look beyond the obvious R&D projects to fully maximise your R&D claim. Once the claim is ready, we work with your finance team to make a submission to HMRC.

discuss tax reports

3. Receive

We deal with HMRC on your behalf and answer their questions. Once approved, we have a 100% success rate, you receive the benefit from HMRC in three to six weeks that can be deposited in your company’s bank account.

If your business is profitable, your overall Corporation Tax bill will be reduced, or if you have already paid your bill for the period, you will receive a repayment. If your business made a loss for the period, you will receive a R&D tax credit cash refund.

Most companies assume they’re not eligible for R&D tax credits

We’re experts in your industry

Speaking your language

We understand and deal with technical financial challenges in a range of  industries. We’re successfully able to implement financial systems and software best suited to resolve specific industry related problems. We have designed solutions to automate a lot of admin processes within Xero, especially our hospitality and property management solutions are used by high performing companies based in London.

In regards to R&D claims, we prepare high-quality technical reports to support every claim submitted by us. We also provide professional representation from start to finish to deal with HMRC on your behalf. As part of our onboarding process, we inform HMRC to copy TaxQube London into all official correspondence.

R&D tax credits

Testimonials

Supreme protection

“We were with a different R&D supplier when TaxQube approached us. These guys really work hard to understand your business activities and ask questions until its fully understood. Result of their rigorous process? A solid R&D report for HMRC to verify your claim. The report is quite informative so even if you get questioned by HMRC in the future, you can defend your position. 

Apart from that, highly professional in their approach and technically astute. We were impressed by how much they knew about IT when they worked with our developer”

Kash from Supreme protection

desk gear

DeskGear

We arrived back in the UK from Florida late yesterday. Many thanks to you and your team for an efficient, friendly and professional service. I will keep in touch”

Peter from Desk Gear

Confidential

“We can’t believe how much R&D was done by our company, we hadn’t spotted these activities as R&D eligible. We do problem solving all day based on client requirements, we even maintain a variation log that is pretty much used in every project.  

It has been a huge learning curve for us to understand R&D and now we know what to look for. The R&D team was proactive and knowledgeable when they met with our project directors. We would highly recommend for companies who want to claim.”

Ed from a construction company (40M+turnover) based in London

Our technical team is here to help you.

Speak to one of our advisors today!

Let’s talk

Please complete the form with your details. We will get back to you within 24 hours.