Improve your cash flow with R&D tax relief

  • 4th August 2020

As cashflow becomes ever more critical in the coming months due to the current economic pressures caused by the COVID-19 outbreak, R&D tax relief could be a great area to help businesses access cash quickly.

HM Revenue and Customs are working around the clock to process R&D claims, most being completed within 28 days. This means you could get a cash influx into your bank very quickly.

What is Research and Development tax relief?

SMEs who are either starting or have completed any qualifying R&D can get a refund from HMRC or an additional 25% deduction of R&D expenditure from the corporation tax bill. For loss making companies, you could get as much as 33% of R&D expenditure back.

Isn’t R&D just for high tech innovation?

Not at all. R&D tax relief can be claimed by a wide range of business sectors, not just tech.

If you have developed a new product or process to overcome design or development problems then you could be eligible. So you could be doing R&D and don’t even realise it.

Am I eligible for R&D Tax Relief?

To find out whether you may be eligible, we have a simple checklist for you to look at. If you can answer YES to any of the questions, then your project could be eligible.

See if you may be eligible now – go to the checklist

Any news or resources within this section should not be relied upon with regards to figures or data referred to as legislative and policy changes may have occurred.