Funding associated with investigation or inquiry that may lead to the creation or use of Intellectual Property

Funding associated with the creation of new, breakthrough or disruptive science or technology

Funding that requires collaboration between industrial and academic partners

Funding or support to prove the market value, function or application of a product or service idea

Funding or support related to the design and manufacture of a prototype product or system

Funding or support related to the design processes associated with the product development cycle

Funding or support related to manufacture, supply chain, or design for manufacture , or reducing costs

Funding or support related to the design and development processes, related to product commercialisation

Funding or support associated with "selling" a product or service, or increasing revenues

Funding or support associated with the early stages of company formation and growth

Funding or support associated with skills, training or employee development

Funding or support to assist companies to globalise or internationalise their products or services

Chantrey Vellacott DFK - Research & Development (R&D) Tax Credits Assistance

 

In order to potentially claim this relief a company must have a systematic project which is seeking an overall advance in science and/ or technology and resolution of scientific and/ or technological uncertainty. Please note that this project need not be successful.

A company or organisation can only claim R&D Relief if it's liable for Corporation Tax.

R&D Tax Relief is a Corporation Tax relief that may reduce your company or organisation’s tax bill by more than your actual expenditure on qualifying R&D costs.

Alternatively, if your company or organisation is small or medium-sized, and has incurred a loss, you may be able to choose to receive a tax credit instead, by cashing in the relevant tax loss to HM Revenue & Customs (HMRC) up to a limit based on PAYE and NIC paid during the year.

It is a government scheme that was introduced in order to encourage innovation and enterprise within the UK economy.

Chantrey Vellacott DFK experience shows that UK SME’s can achieve a 75% enhancement on qualifying costs thereby reducing their corporation tax liabilities. Furthermore, loss making SME’s can surrender their R&D tax losses for cash refunds. This allows companies to extend their runway when budgeting for milestones or future fundraising rounds. Chantrey Vellacott DFK seeks to ensure that claims are maximised and if they do not save a client tax or generate a refund, they do not raise a fee.

R&D Tax claims that have been already submitted can be reviewed by Chantrey Vellacott DFK for either a second opinion or reassurance, in several cases this has achieved substantial improvements on some of these original claims.

Chantrey Vellacott DFK are happy to provide sole R&D Tax services to clients or alongside existing advisors in order to specialise in this specific area.

Chantrey Vellacott DFK begin with a no obligation preliminary discussion and then analyse projects undertaken to determine whether the Tax Reliefs can be claimed and produce a technical analysis of these projects. They prepare and submit claims to HMRC and then negotiate with them to seek 'agreement' of the claims.

For further information please contact Claire Knight on 020 7509 9000 or cknight@cvdfk.com.

The R&D Tax Relief or Credit scheme is a notified European Union State Aid and cannot be claimed in conjunction with some R&D Grants.

It is crucial to consider whether a R&D Grant is sought or R&D Tax Relief/ Credits claimed before a project is started.

http://www.cvdfk.com/documents/R&D_Tombstones_Nov_08.pdf