Refer a friend and receive up to £1,000!
There’s always a good deal of mixed press surrounding tax planning and, often, people aren’t sure what they’re entitled to in terms of claiming tax relief for their business activities.
One very positive form of relief that is sometimes missed is Research and Development (R&D).
R&D relief benefits companies that work on innovative projects in science and technology. Just as it says on the tin, if you’re researching or developing a scientific or technological advance in your field, this is a tax benefit you can claim. Believe it or not, you can even claim it for a project that’s been unsuccessful. And, as an added bonus, you may be able to claim Corporation Tax relief too!
So what counts as R&D?
Information you’ll need to prove your claim is valid
To get R&D relief you’ll need to explain the following factors.
Types of R&D relief
There are different types of R&D relief depending on the size of your company and whether or not the project has been subcontracted to you.
You can claim an R&D Expenditure Credit (RDEC) for working on R&D projects. This is a tax credit for 11% of your qualifying R&D expenditure up to 31 December 2017 and 12% from 1 January 2018. Don’t worry – well hel you work out the correct amount
Small and medium sized enterprises (SME) R&D Relief
You can claim this if you’re an SME with:
Here at Nordens we’re completely clued up on all the relevant features of this tax credit to make sure you benefit from it fully. We’ll support you throughout your claim and ensure your finances for the project are allocated in the most tax-efficient way. Call us to find out more on 020 8530 0720, or email firstname.lastname@example.org.
Research and Development Pic via picserver.org courtesy of Nick Youngson CC BY-SA 3.0 Alpha Stock Images
At Nordens, we're more than just accountants - we're business experts who can help you achieve your biggest goals.
Our specialist strategic division at Nordens boasts some of the leading entrepreneurial business minds in the country. We cater towards delivering consistent success stories, whilst helping businesses achieve above and beyond their initial goals.
Through highly-tailored guidance, coaching and advice, Nordens Strategic are able to define exactly how your business can reach new levels of success.
Regardless of how you define ‘success’ for your business, our strategic service is guaranteed to bring about real and lasting change. By partnering with some of the UK’s top business coaches, we’ll steer you along the path to a greater future.
Every business, no matter how big or small, needs to make the right decisions, and how to best manage your accounts can put huge question marks over your business. Accounting2You is here to take that pressure off and provide you with all the answers you need.
Our bookkeeping branch offers a fully inclusive, comprehensive service that you can trust. Since 2005, our specialist bookkeepers have been successfully managing the accounting of both individuals and small businesses.
With experts in payroll analysis, credit control and financial recording, Accounting2You will lead your business efficiently, and with real purpose, towards a prosperous future.
Voted as EXCELLENT - 9.9 out of 10 based on 164 reviews
We've always got our ears to the ground when it comes to interesting, useful and topical information relating to business and accountancy.
We love making videos that break down convoluted accountancy jargon into plain-talking, actionable and accessible facts.
In November 2002, having sold our other business interests off earlier in the year, I decided to set up Nordens Chartered Accountants. The easy part was knowing how to do it, as I had established and built a smaller practice a few years earlier. The difficult part, for me, was not following the traditional accountancy path. Having run businesses, both successfully and unsuccessfully, I wanted to help business owners resolve their short term problems and work with them to achieve their longer term goals. Business has always been my interest and I love that I can help business owners achieve what seems like the impossible every single working day.
Our limited company accountants have a range of qualifications from The Institute Of Chartered Accountants (ICAEW) to the Association of Chartered Certified Accountants (ACCA). We worry about the bye-laws, regulations and ethical guidelines of the ACCA so you don’t have to! That makes us an ACCA-accredited employer as well as a Professional Passport-accredited one!
At Nordens, we're committed to keeping our clients updated on all things business strategy and news. Each week we update our newsletter subscribers on what really matters in the big bad world of business. That way, you can stay one step ahead!
In celebration of our 18th birthday, we’ve launched our Refer-a-Friend scheme, allowing you to receive a thank you gift from us of up to £1,000 for successfully introducing a new client.
Our team of experts will be in touch to find the very best time to hold a free, no strings attached, one-hour consultation.