R&D Tax Credits

Research & Development Tax Credits Explained

An overview of R&D Tax Credits; what they are, what counts as R&D, who can claim, how to claim, claim statistics and frequently asked R&D Tax Credits questions.

What Are R&D Tax Credits?

R&D Tax Credits are a UK government incentive, which financially incentives research and development via tax relief

You can claim back either cash, or a future tax benefit (deduction from future years corporation tax bills), against the costs incurred whilst undertaking research & development.

Backdate for two accounting years, if you haven't claimed before
Repeat every year
Average claim value is over £53,000
79,205 companies claimed in the 2021/2022 tax year
Over 17,000 companies claimed for the first time in 2020/2021

Who Can Claim R&D Tax Credits?

Limited companies, CIC’s and PLC’s can claim R&D Tax Credits

What counts as R&D?

What is classed as R&D for Tax Credits?

In your free consultation we’ll help you identify what work qualifies for R&D Tax Credits, an outline of the type of work we’ll be discussing is as follows:

Attempting to advance or improve a product, process, or service; doing something new, or improving upon something that already exists
Attempting to overcome technical challenges or uncertainties, for which the solution isn't common knowledge which could be easily overcome by a relevant competent professional
Attempting to make an advance in your field

How To Claim R&D Tax Credits

For more detailed information, read our How To Claim R&D Tax Credits guide

Documents

Step 1

To work out how much you can claim, we require some accounting documents

As R&D Tax Credits are a tax relief, we need some accounting documents to work out how much your company can claim.

Claim Value

Step 2

We discuss your claim in more detail, calculate the value and send you your quotation

Once we’ve discussed the work you do and your R&D expenditure, we can finalise your claim value quotation

Submission

Step 3

We need your authorisation and a little further information to enable us to submit your claim

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R&D Tax Credits Statistics

In the 2021/2022 tax year (1st April 2021-31st March 2022), 79,205 companies claimed R&D Tax Credits. The total amount claimed was £4.6 billion. The average R&D Tax Credits claim value was over £53,000 per claim.

In the 2020/2021 tax year, over 17,000 companies claimed R&D Tax Credits for the first time.

Total amount claimed

£4.6 billion

Total number of claims

79,205

Average claim value

£53,000+

R&D Tax Credits FAQ's

Frequently Asked Questions About R&D Tax Credits

Why hasn’t my accountant already done this?

How much can I claim?

How much does it cost?