The UK government provides a generous scheme for companies undertaking R&D. This can fund a substantial proportion of the R&D activities (up to a more than 33% for a SME company and up to 12% for a large one). Qualifying costs can include staff/contractor/subcontract costs, consumables, software licences etc.
Contrary to perception, R&D is not about “rocket science” and many of the activities performed in the normal course of development can qualify. The key test is whether the development involves certain “technological uncertainties” for which experienced “competent professionals” do not have readily available solutions. We help you understand the guidance to be able to apply it correctly and fully benefit from the schemes. We work with your technical and accounting people to prepare a robust claim.
We take the claim through the full process of preparation, submission and agreement with HMRC on your behalf and are able to offer a fee structure that means you only pay us for successful claims.
Please see below for how the R&D scheme is relevant in your industry sector and for companies like yourselves.
Manufacturing companies may often think of activities as routine and not qualifying for R&D. However this is a sector where R&D qualifying activity can be found in a number of areas including product design and development, and specialised testing. Additionally, process improvements to enable higher throughput, better quality and waste reduction can also qualify.
The traditional stronghold of R&D activities, this is a sector that can benefit substantially from the R&D scheme. Qualifying activities can include the full spectrum of work including drug discovery, novel chemicals/proteins design, assays, formulation and various stages of testing.