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Benefits of R&D Tax Credits

R&D Tax Credits work by allowing your business to include an additional deduction in calculating its taxable profits. Real tax savings can be achieved whether your company is tax-paying or loss making.

The types of qualifying R&D expenditure typically include staffing costs, software, utility bills, materials and possible subcontracted costs. These R&D costs can be enhanced by up to 230 percent for SME businesses.

The average annual R&D claim for UK SMEs is circa £54,000. Just ask yourself how much extra in sales your company would need to generate in order to have the same bottom line impact as an average R&D Tax Credit payment of £54K?