R&D Tax Credit Consultants

by Nick Bonnaud

Quest - Professional R&D Tax Credit Consultants

As experienced R&D Tax Credit specialists, we know how to fully maximise your claim so you get everything you are entitled to.

Looking for the best R&D tax credit consultants to help you maximise your R&D tax credit claim? R&D tax credit is an intricate area of tax and Quest aims to simplify the complex world of R&D taxes credits and make it easy for you to understand. Quest are trusted and experienced R&D tax advisors that offers a no-obligation claim assessment, which determines if you are eligible for R&D tax credits and how much you will receive if you are.

The average amount of R&D Tax Credit claims our clients receive is £135,000 and each claim is handled by an experienced R&D Tax Credit consultant.

Are you eligible for R&D tax credits?

Do you already know the research and development numbers for your company? Check out our free R and D Tax Credits Calculator to get an estimate of what you might be entitled to. Be aware that the free calculator is just a guide. Looking for the best R&D tax credit advisors? To get a more accurate picture of what you may be entitled to, call our experienced R&D tax credit consultants on 0121 235 0315 for your free no-obligation R&D tax assessment.

You may not realise there are lots of different types of business that are eligible for R&D tax credit. To be eligible for R&D tax credit credits, you don’t have to be a rocket scientist, engineer or even work in a lab. All you basically have to do to qualify for R&D tax credits is simply prove that you were faced with some technical problems that had an uncertain solution.

Is your company eligible?

#1: Have you undertaken a project?

To claim R&D tax credits, you must first identify whether your company has ever undertaken a project. Have you tried to complete any of these:

Creation

Have you created something from the ground up? You can qualify for research and development tax credits if you have created something that is new, such as a new product or device, a new process, new software or new services.

Looking for the best R&D tax credit companies? To find out how much your business is entitled to, call our expert R&D tax credit consultants on 0121 235 0315 for your free no-obligation R&D tax credit consultation.

Improvements

Are you working on a product but it’s not yet ready? Maybe you had to improve a process. You could be eligible for a R&D tax credit claim if you have made significant improvements in products, processes or software.

These improvements could include updating products in order to meet the new legal standards, improvements to production lines to increase efficiency or software system enhancements.

Looking for the best R&D tax advisors? To find out how much your business can claim, call our specialist R&D tax credit consultants on 0121 235 0315 for your free no-obligation R&D tax assessment.

Duplication

When it comes to R&D tax credit claims, duplication is often ignored. You could be eligible for R&D tax credits if you replicate existing products, devices or software, process replication or the reproduction of a service.

However, to qualify for research and development tax credits, the method of attaining the breakthrough must be a trade secret.

Most companies will probably meet at least one of these requirements.

#2: Identifying the Problems

This is the second requirement that will confirm your eligibility. Consider a research & development project a journey. If you are faced with technical problems that you feel a professional would be unable to solve, your work could earn you research and development tax credit.

These problems must be of a technical or scientific nature and cannot be applied to business problems such as staffing, HR (Unless it’s an HR software project) and marketing. It is possible that you project may qualify for R&D credit relief if your company meets the above criteria.

Looking for the best R&D tax credit specialists?Check out our free R&D Tax Credits Calculator to get an estimate of what you might be entitled to.

Be aware that the free research and development tax credits calculator is just a guide. To get a more accurate picture of what you may be entitled to, call our expert R&D tax credit consultants 0121 235 0315 for your free no-obligation R&D tax assessment.

Which costs can I claim with R&D tax credits?

Your R&D credit will be determined by the amount of research and development expenses that your company has incurred.

You cannot claim R&D credit for all costs. The majority of your R&D spending will be housed in the cost categories predetermined by HMRC. You can include the following categories:

Staff & Employee Costs

You can claim the employment expenses of any employees and directors who have spent time working on R&D projects. You can claim these staffing expenses for both smaller and larger businesses:

– Gross salary

– Contributions to national insurance by employers

– Contributions to employer pensions

– Expenses

Subcontractors

It is acceptable to outsource development tasks to third parties and expenditure for these subcontractors can be included if the work was for research and development projects.

Looking for the best R&D tax companies? To find out how much your business can claim, call our trained R&D tax credit consultants on 0121 235 0315 for your free no-obligation R&D tax consultation.

EPW – External Provided Workers

The cost of agency workers, and other external staff hired required for the R&D projects, can be added to your R&D claim.

Software

Your claim may include the cost of any software required for your R&D activities. We can help you determine the amount of cost that we are allowed to include if the software is used both for R&D or non-R&D purposes.

Consumables

Many consumable materials are used in research and development. You probably didn’t consider including them in your R&D credit claim. You can include your expenditures on raw materials consumed, transformed or used in research and development. You can also include water, light and heat charges.

Clinical Trials

It is common for companies to pay people involved in drug development projects to conduct clinical trials. You can claim R&D credit for these costs.

Which R&D Tax Relief Can I Claim?

It is crucial to determine which R&D tax relief will apply to your company. Two outcomes can result from claiming the wrong relief:

1. You will not be entitled to the full amount of money you claim, as your claim is too small.

2. You will have a claim that is larger than necessary, which could lead to an HMRC inquiry and possible penalties.

But you never have to worry about any of that as Quest is here to explain everything in simple plain English and help you maximise your R&D tax credit claim. Our professional R&D tax credit consultants will ensure your claim is properly prepared and that you get everything you are entitled to.

Check out our free R and D Tax Credits Calculator to get an estimate of what you might be entitled to, but be aware that the free calculator is just a guide. Contact us to get a more accurate picture of what you may be entitled to.

Looking for the best R&D tax advisers? Call our professional R&D tax credit consultants on 0121 235 0315 for your free no-obligation R&D tax assessment.

What R&D Tax Relief Is Right For Me?

To determine the right relief for your company, let’s first look at these three crucial aspects of your business:

1 – Under 500 staff? YES > Under £100m turnover? YES = SME > R&D Tax Relief available

2 – Under 500 staff? YES > Over £100m turnover? YES > Under £86m gross assets? YES = SME > R&D Tax Relief available

3 – Under 500 staff? YES > Over £100m turnover? YES > Over £86m gross assets? YES = RDEC > R&D Tax Relief available

4 – Over 500 staff? YES = RDEC > R&D Tax Relief available

Check out our free R&D Tax Credits Calculator to get an estimate of what you might be entitled to, but be aware that the free calculator is just a guide. Contact us to get a more accurate picture of what you may be entitled to.

Looking for the best R&D tax specialists? Call our professional R&D tax credit consultants on 0121 235 0315 for your free no-obligation R&D tax assessment.

SME R&D Tax Relief

Available to small and medium businesses, the SME Research and Development Tax Relief allows businesses to get up to 33% of their R&D costs back as a tax reduction, payable tax credit or a combination of both.

To find out how much your business can claim, call our experienced R&D tax credit consultants on 0121 235 0315 for your free no-obligation R&D tax assessment.

RDEC - Research & Development Expenditure Credit

The R&D Expenditure credit (RDEC) allows larger businesses that fall under the UK corporate tax to claim tax relief of up to 13p per £1 for qualifying R&D activities.

RDEC, unlike SME relief, is taxable income. The company can receive up to 11p per £1 spent on qualifying activities after deducting tax. RDEC relief will only be available to SMEs in certain circumstances.

For example, if an SME has been contracted to do R&D work for a big company, or if some government grants have been received.

Use our free Research and Development Tax Credits Calculator to get an estimate of what you might be entitled to.

Be aware that the free calculator is just a guide. To get a more accurate picture of what you may be entitled to, call our trusted R&D tax credit consultants on 0121 235 0315 for your free no-obligation R&D tax consultation.

What Is My R&D Tax Credit Claim Worth?

Small and medium businesses can get up to 33p per £1 for qualifying research and development activities. The average claim for SME tax credits is about £54,000 (R&D Statistics Report 2020-2021). For every £1 that is spent in qualifying R&D activities, large companies may be eligible for a 13p claim.

The average claim for large companies is about £225,000, but these are averages and not indicative of what you may claim. Talk to qualified R&D tax credit advisors like Quest to calculate your R&D tax credit. This is the best way to find out how much your business is entitled to.

Our free R and D tax credits calculator can give you an estimate of how much your research and development credit claim might be worth, but be aware that our free R&D Tax Credits calculator is not as precise as expert advice.

It is helpful to provide an overview of potential R&D tax claim benefits, but you need to contact our expert R&D tax credit consultants on 0121 235 0315 for a more accurate estimate of your claim value.

SMEs may need to file a claim for relief as a large business under certain circumstances. Quest will ensure you are claiming the right R&D tax relief and not missing out on any additional funds.

RDEC, unlike SME relief is taxable income. This means that the company can receive up to 11p per £1 spent on qualified activity, after deducting tax.

Don't Miss Out On All The R&D Tax Credits You Are Entitled To

Find out the real value of your R&D tax credit claim. Although our free research and development tax credit calculator is a useful tool that gives you an estimate of what you might receive, it won’t be as precise as the expert assessment from our team.

R&D tax advisors Quest have assisted hundreds of small and large companies claim R&D tax credits. Our unique process, expertise and our tried-and-tested method are what make us stand out.

Use our free R&D Tax Credit Calculator to get an estimate of what you might be entitled to, but be aware that the free calculator is just a guide. To get a more accurate picture of what you may be entitled to, call our specialist R&D tax credit consultants on 0121 235 0315 for your free no-obligation R&D tax consultation.

We leave no stone unturned and will make sure your R&D tax claim is maximised and you get everything you are entitled to.

What does an R&D tax consultant do?

An R&D tax credit consultant (or R&D tax consultant) is responsible for providing specialist advice, the preparation of written reports and the preparation of financial calculations to support a R&D tax relief claims.

Our experienced R&D tax relief advisors will help you maximise your claim ensuring you get everything you are entitled to.

Call our trusted R&D tax credit consultants on 0121 235 0315 for your free no-obligation R&D tax assessment.

Who can claim RDEC?

To qualify for RDEC (Research & Development Expenditure Credit), you must be have over 500 members of staff or over £100m turnover and over £86m of gross assets if you have under 500 members of staff (See above for more details).

Call our specialist R&D tax credit consultants on 0121 235 0315 for your free no-obligation R&D tax assessment.

If you like this post: R&D Tax Credit Consultants, then make sure to check out more like this on our Blog: Why is asset management important for businesses? What Can You Claim R and D Tax Credits For?, 10 Top Accounting Tips For Startups, Pros and Cons of Paying Your Tax Early, 7 Bookkeeping Mistakes To Avoid, Best Birmingham Chartered Management Accountants.

Call trusted Birmingham accountants Quest on 0121 235 0315 for free tax and business advice. Lets have a chat about how we can help you pay less tax, keep more money in your pocket and grow your business 🙂

If you want to discover how we can help your business, Quest also offers the following services: VAT, Payroll, Business Tax, Tax Services, New Business, Self Assessment, R&D Tax Credits, Tax Deadlines and Annual/Management Accounts.