The UK’s research and development (R&D) tax incentive schemes are designed to encourage private sector investment in innovation.

At Arnold Hill & Co, we have extensive experience of supporting clients who undertake qualifying research and development in the early part of their business lifecycle. As such, if your business is seeking to take advantage of the schemes on offer, we can help.

Whatever the size of your business or its turnover, you may be able to benefit from one of two of the R&D tax incentive regimes.

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SME R&D Tax Credit Regimes

Small or medium-sized enterprise (SME) R&D tax relief allows qualifying companies to:

• Deduct an extra 130% of their qualifying costs from their yearly profit, as well as the normal 100% deduction, to make a total 230% deduction; or
• Claim a tax cash credit if the company is loss making, worth up to 14.5% of the “surrenderable” loss

Research And Development Expenditure Credit (RDEC)

Larger businesses can claim under the RDEC scheme, which operates a rate of 13%, payable as a cash refund or an offset against the company’s Corporation tax liabilities.

Additional tax relief innovation regimes include:

• Patent Box which taxes profits arising from patents at 10% rather than the mainline corporation tax rate
• Capital Allowances which provides a 100% tax deduction on capital expenditure for R&D projects

Promoting Innovation Through Claims For Tax Relief

At Arnold Hill & Co, our knowledgeable staff have years of experience helping businesses negotiate innovations tax legislation.

We can identify the activities that qualify as R&D and provide a holistic approach to claiming innovation tax relief – giving you peace of mind at every stage of the process.

Our tax specialists can support your business by:

• Assisting with tax relief claims for the development of new and innovative products
• Undertaking claims for Capital Allowances on behalf of clients in line with current legislation
• Assisting clients with their Patent box claims

By choosing Arnold Hill & Co, you can be confident that you will be accessing the tax incentives your business needs to grow healthily, increase its profits, and reduce its exposure to risk – promoting further investment in Research and Development.

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To find out more about innovation tax incentives and how to maximise R&D tax relief, please call us today on 020 7306 9100.

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Do you have any questions or queries about our services? Or would you simply like some professional financial advice?

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