R&D Tax Credits

R&D Tax Credits: Unlock Innovation and Save on Tax

You may have heard of R&D tax credits but might not be sure if your business qualifies. Ask yourself this: does your company develop new products or processes, improve existing services, or seek technological or scientific advances? If so, you could be eligible for valuable R&D tax relief.

To qualify, your project must be aimed at advancing science or technology, and it must relate to your company's trade—whether it’s an existing one or a new venture you're planning to start. Importantly, your project should:

• Seek an advance in the field of science or technology
• Overcome scientific or technological uncertainties
• Address challenges that couldn’t easily be solved by a professional in the field

Whether you're developing new processes, products, or services, or improving existing ones, you may qualify for this valuable relief.

Eligible Costs for R&D Tax Relief Include:

• Employee salaries (including NI, pension contributions, and bonuses)
• Software
• Subcontractor costs
• Materials
• Light, heat, and power used during the project

Even better, you can claim for the last two completed accounting periods, meaning you could benefit from relief on past projects.

How We Make It Easy for You

At Chadwick Accountants, we understand that R&D tax credits can seem complex. That’s why we make the entire process as simple as possible for you. With minimal time required on your part, we take care of the entire claim from start to finish, ensuring 100% compliance with HMRC guidelines.

Our process is straightforward and stress-free:

1. Initial Consultation: We’ll identify qualifying projects through a quick interview process.
2. Information Gathering: We’ll work with you to gather the relevant costs associated with your R&D projects.
3. We Do the Rest: We handle the report writing, submission, and liaising with HMRC on your behalf.

We conduct interviews with key team members and handle the report write-ups ourselves, saving you time and ensuring accuracy. Unlike many R&D consultants, we tailor a report specific to your business that complies fully with HMRC requirements. If HMRC needs further information, your claim is ready to go, ensuring peace of mind.

Rest assured, we only submit claims that we believe are fully compliant with the criteria, so you can be confident that you’re in safe hands.