Research & Development tax relief - boost your cash flow
In 2000 the government introduced a scheme to encourage scientific and technological innovation within the UK.
R&D relief is a Corporation Tax relief that may reduce your company's tax bill, or result in a cash refund.
For tax purposes, R&D takes place when a project seeks to achieve an advance in overall knowledge or capability in a field of science or technology. This would be in the form of researching and developing a product, service, system or process.
Research and Development expenditure tax relief
Summary of the scheme and our service
R&D relief allows companies that carry out qualifying R&D, which is related to their trade, to claim an extra Corporation Tax deduction for certain qualifying expenditure.
The claim must be made within 2 years from the end of the financial year in with the R&D occurred.
We offer a comprehensive service utilising industry experts and with a 3 year HMRC guarantee of project eligibility - our full R&D relief claim service for SME's comprises the following steps:
Understanding and documenting the project(s) to be included in the claim
Preparing and submitting an HMRC Application for Advance Assurance (which guarantees the claim is valid)
Documenting the costs that qualify for tax relief
Preparing a comprehensive report for submission to HMRC
Providing the necessary information for inclusion in the company Corporation Tax return
The above full R&D relief claim service is available for a fee of 20% of the benefit to the company in the first two claim years.
Benefit to the company includes a reduction in the Corporation Tax liability and/or a rebate received by the company as a result of the claim.
Our fee will be reduced to 10% for the same project in future years due to the reduced workload involved.
We ask for an upfront deposit of £1,000 to cover external costs, repayable immediately if the application fails for any reason (other than the missing of deadlines due to the clients failure to provide timely information).
No fee is due should the claim be rejected by HMRC, and you can therefore have confidence and peace of mind that you will only incur fees for valid claims, retaining 80/90% of the value of the claim to be used as operational cash flow.
Hi, I'm Richard,
Having enjoyed a successful career to date as a Finance Director I have now embarked on a second career – using my experience to provide startups and early stage companies with accounting, tax, cash forecasting and operational advice
I have been preparing, reviewing and submitting R&D expenditure tax credit claims for multi-national software and hardware companies since the early years of the scheme's inception in 2000. My experience has given me a valuable insight into what projects and expenditure qualifies for relief, and how to gather and present the information in the required format.
Hi, I'm Adrian,
I have had a long and varied career in IT, with significant spells as a coder, designer, project manager, programme manager, and most recently as a solution and enterprise architect.
Most of this time has been spent with large corporates, but I also spent four years leading the technology team in a small and successful online brokerage business.
I have used many different languages, databases, technology frameworks, and architectures over more than three decades. My passion is design, but I feel strongly that this demands a detailed knowledge of the technologies and frameworks involved, which for me personally, means hands-on coding whenever possible.
I am really excited to be working with Green Shoots Accounting, helping SMEs get the most from their investment in technology.
I live in the North Cotswolds with my wonderful family, including my wife Nicky, two amazing children, and Calvin, our Norfolk Terrier. I love long-distance walking, running, playing guitar, and escaping in the world of travel literature.
THE NEXT STEPS...
We discuss the project(s) and eligibility for claim
We work on your behalf to process the claim with HMRC
You receive a tax reduction or cash rebate from HMRC