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How R&D tax relief can benefit your business

R&D tax relief could be a significant boost for your business. The relief allows an SME carrying out qualifying R&D projects to claim a tax deduction of 230% of the cost of qualifying R&D costs, meaning you could get up to around 25% of qualifying research costs back in the form of a cheque from HMRC. Qualifying companies can claim every year so that tax saving can add up significantly over a period of time. 

Qualifying R&D expenditure £20,000
R&D tax relief deduction £46,000
Tax saving £9,200

The table below shows how much much our clients have saved.
Business Qualifying R&D project Tax saving over one year
Software development New banking software £106,000
Designer of non-chemical treatments for specific medical conditions Development of specialist lighting £43,000
Website developer New software to allow clients to share data £37,000
Manufacturer of antennas and aerials New product development £25,000
Manufacturer and packer of speciality chemicals New technology to improve processes £22,000
Underwater lighting and camera solutions Fibre optics available £22,000
Packaging manager Development of new lightweight pallets £18,000
Aircraft support Specialist software tool for an aircraft fuselage £14,000
Manufacturer of hygienic process equipment Development of samplers and extruder feeders £5,000
Vintage motorcycle restorer Development of new bike valves £5,000