R&D Tax Credits FAQ's
Frequently asked R&D Tax Credits Questions, answered
General Questions
R&D Tax Credits are a government incentive, which aim to financially encourage UK companies to do more research and development, by allowing them to claim back some of the costs. See our What Are R&D Tax Credits guide for more information
Private Limited Companies (Ltd’s), Community Interest Companies (CIC’s) and Public Limited Companies (PLC’s) can claim R&D Tax Credits. Sole traders, partnerships and LLP’s cannot claim R&D Tax Credits
If you have attempted to advance, or improve, a product or process, make an advance in your field, overcome a technical challenge or uncertainty, there’s a good chance you’re eligible for R&D Tax Credits, meaning you can claim back some of the costs of this work. Each company is different, some do a small amount of R&D, some companies purely do R&D projects. Our What Counts As R&D For Tax Credits guide has more information about what work qualifies as R&D for tax credits
Claiming R&D Tax Credits is simple, with the help of ResearchAndDevelopmentTaxCredits.com. Once we’ve had a chat about the work you do, the money you spend and reviewed the necessary accounting documents, we can let you know exactly how much you can claim. When you’re happy to proceed, you authorise us to submit the claim on your behalf. Our How To Claim R&D Tax Credits guide has more information
Accountancy Questions
R&D Tax Credits are a niche, which most company accountants don’t specialise in. Like many lines of work, it is best to use a specialist, that’s why we work with accountancy firms to provide R&D Tax Credits and RDEC claims for their clients
Claims can be backdated for the last two accounting years if you’ve not claimed before, then repeated every year. Your last two years company accounts (with profit and loss), last two years company tax returns (CT600’s) and last two years company tax computations (underlying tax calculations)
Your company accounting documents contain information required for us to calculate the value with your claim
Statistical Questions
In the 2021/2022 tax year, 79,205 companies claimed R&D Tax Credits (1st April 2021 to 31st March 2022)
In the 2021/2022 tax year (1st April 2021-31st March 2022), £4.8 billion pounds was claimed via R&D Tax Credits
The average R&D Tax Credits claim value was over £53,000, for the 2021/2022 tax year (£4.8 billion divided by 79,205). Our R&D Statistics guide has more information.