{"id":6325393,"date":"2021-02-17T14:10:14","date_gmt":"2021-02-17T14:10:14","guid":{"rendered":"https:\/\/beta.project-progress.net\/projects\/bespoke\/?page_id=6325393"},"modified":"2021-07-01T12:38:01","modified_gmt":"2021-07-01T12:38:01","slug":"rd-taxrelief","status":"publish","type":"page","link":"https:\/\/beta.project-progress.net\/projects\/bespoke\/rd-taxrelief","title":{"rendered":"R&D Tax Relief"},"content":{"rendered":"[vc_row el_class=”decoration-top”][vc_column css=”.vc_custom_1601043676477{margin-bottom: 00px !important;padding-top: 0px !important;}”][vc_empty_space height=”120px” el_class=”norebro-phone-space”][\/vc_column][\/vc_row][vc_row full_width=”stretch_row” el_class=”service-section-blk”][vc_column width=”2\/3″ el_class=”service-content”][vc_row_inner][vc_column_inner]
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\n\t\tR&D Tax Relief\t<\/h2>\n\n\t\n\t\t\n<\/div>[vc_column_text]Research and Development (R&D) tax reliefs are designed to support companies that work on innovative projects. This encourages greater R&D spending, leading in turn to greater investment in innovation.<\/p>\n

They can be claimed by a range of companies that seek to research or develop an advance in their field, this applies to both successful and unsuccessful projects. R&D tax reliefs work by reducing a company\u2019s tax bill by an amount equal to a percentage of the company\u2019s qualifying R&D expenditure.[\/vc_column_text][\/vc_column_inner][\/vc_row_inner][vc_empty_space height=”55px” el_class=”norebro-phone-space”]

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\n\t\tTypes of R&D Tax Relief\t<\/h2>\n\n\t\n\t\t\n<\/div>[vc_column_text]Different types of R&D relief are available depending on the size of your company, and whether the project has been subcontracted to your organisation.<\/p>\n

Small and Medium Enterprises (SME) R&D Relief<\/h4>\n
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  • Less than 500 staff<\/li>\n
  • a turnover of under 100 million pounds or a balance sheet total under 86 million pounds<\/li>\n<\/ul>\n

    SME R&D relief allows organisations to claim a tax credit if the company is making a loss worth up to 14.5% of the surrenderable loss<\/p>\n

    R&D Expenditure Credit<\/h4>\n

    Large companies can claim Research and Development Expenditure Credit (RDEC<\/abbr>) for working on R&D Projects. Companies (including SMEs) can claim RDEC if subcontracted by a large company.<\/p>\n

    The\u00a0RDEC<\/abbr> is a tax credit that is 13% of your R&D expenditure.[\/vc_column_text][\/vc_column][vc_column width=”1\/3″ el_class=”fixed-right-img”][vc_empty_space height=”54px” el_class=”norebro-phone-space”][vc_single_image image=”6325196″ img_size=”full”][\/vc_column][vc_column][vc_empty_space height=”100px” el_class=”norebro-phone-space”][\/vc_column][vc_column width=”1\/3″][vc_single_image image=”6325690″ img_size=”full” style=”vc_box_shadow_border_circle”][\/vc_column][vc_column width=”2\/3″][vc_empty_space height=”55px” el_class=”norebro-phone-space”]

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    \n\t\tEligibility to Claim\t<\/h2>\n\n\t\n\t\t\n<\/div>[vc_column_text]To qualify for R&D tax relief, you must prove that your business has entered into a project to make an advance in science or technology that relates\u00a0to your company’s line of work.<\/p>\n

    To qualify, you need to prove that your project:[\/vc_column_text][vc_empty_space height=”30px” el_class=”norebro-phone-space”]

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    Looked for an advance in science and technology (and not just for your business benefit)<\/h4>\n\t\t
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    The project must aim to create an advance in the overall field and not just your business. This means that an advance cannot be an existing technology that has been introduced into your sector for the first time.<\/p>\n\t\t<\/div>\n\t<\/div>\n\n<\/div>

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    Tried to overcome this uncertainty<\/h4>\n\t\t
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    You need to show evidence that the R&D needed research, testing, and analysis to develop it. You need to be able to explain the work you did to overcome the uncertainty.<\/p>\n\t\t<\/div>\n\t<\/div>\n\n<\/div>

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    Had to overcome uncertainty<\/h4>\n\t\t
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    This means that there is no existing evidence that something is technologically possible or how it can be done before you start your project.<\/p>\n\t\t<\/div>\n\t<\/div>\n\n<\/div>

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    Could not be easily worked out by a professional in the field<\/h4>\n\t\t
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    To prove that it could not easily be worked out, you can show other attempts to find a solution have failed.<\/p>\n\t\t<\/div>\n\t<\/div>\n\n<\/div>\t\n<\/div>[\/vc_column][vc_column][vc_empty_space height=”75px” el_class=”norebro-phone-space”]

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    \n\t\t\tGet in touch\t\t<\/p>\n\t\n\t\n\t

    \n\t\tSee How We Can Help With Your R&D Tax Relief\t<\/h3>\n\n\t\n\t\t\n<\/div>[vc_empty_space height=”15px” el_class=”norebro-phone-space”]
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