Research & Development Tax Relief

Have you made an R&D Tax Claim, or are you interested in finding out if you are eligible?

Contact our team today.

What Is R&D Tax Relief?

R&D tax relief is a tax incentive provided by the UK government to encourage companies to invest in research and development (R&D) activities. The incentive is designed to reduce the cost of R&D by providing tax relief on eligible R&D expenditure. R&D tax relief provides a valuable financial benefit to companies investing in R&D, making it easier for them to pursue innovation and bring new products, processes and services to market.

R&D tax relief can take the form of either a corporation tax deduction or a payable tax credit, depending on the size and circumstances of the company. To be eligible for R&D tax relief, a company must carry out R&D that seeks to make an advance in science or technology. The R&D must also meet certain other conditions, such as being carried out in the UK and being part of a company's trade.

For an R&D submission, business then have to showcase how they have made an advance in science or technology that has overcome uncertainty. That's where JJMK come in, taking a deep dive into your innovation projects and producing a technical narrative to evidence the costs and work that was involved. Our process simplifies the journey for our clients, streamlining an otherwise laborious process.

Over 59,000 claims submitted annually

50,000 claims are from SME businesses

UK Companies On Average Receive £57,000

Over £5.3 billion is received annually for UK companies

What Costs can be included?

Staffing Costs

This includes all expenses associated to the R&D project such as; Salaries, Tax/NI, Bonuses, Pension, Travel Expenses

Software Licences

If you paid for licences to assist your R&D project, then we can include the costs associated. We need to understand, to what level the software was used to determine the qualifying costs

Utility Costs

Utilities costs can be included while undertaking elements of your R&D project. This includes water, fuel and power.

Externally Provided Workers

Any agency/Temporary workers costs can be included within your submission. Like staff the costs will be based on their involvement with the R&D project.

Sub-Contractor Costs

Outsourced work that is part of your R&D project can be included within submissions. Usually it is only SME businesses that can include these costs.

Material Costs

Materials that are used within the R&D project can be included within submission. We will also look to discuss any trials that you have undertaken.

What Activities Can Qualify?

New Material Development

Improving yields

Automation of processes

Adapting existing machinery

Undertaking trials

Reducing Costs

Advancing functionality

Developing Prototypes

Bespoke reporting systems

Adapting to regulations

Improving Quality

Innovative recipe creation

Are You Receiving Funding For Your Innovation?

Contact Us Now