What is UK R&D Relief?

To encourage businesses to undertake innovative projects in science and technology, the UK government provides tax incentives for UK based companies. These credits have been around since 2000. Over 20,000 companies have claimed close to £3Bn in tax credits annually.

Who Qualifies?

These credits can be claimed by a range of companies that seek to research or develop an advance in their field. The question is what if your R&D is unsuccessful? You can still claim the credits.

Bottom-line is that, you need to prove that your project:

  • Sought an advancement in science and technology
  • Had to overcome uncertainty
  • Investigations & Analysis were conducted to overcome those uncertainties
  • Could not be easily worked out by a professional in the field

What are the Benefits?

There are 2 different types of R&D relief depending on the size of your company and whether the project has been subcontracted to you or not.

  • If you qualify under the RDEC (Research & Development Expenditure credit) you can claim up to 12% of your R&D expenditures.
  • You can claim up to 230% of tax relief if you qualify under the SME (Small & Medium Enterprise) R&D Relief.

Advance Assurance

If your company carries out R&D for itself or other companies, it could qualify for Advance Assurance.

This means that for the first 3 years of claiming for R&D tax relief, HMRC will process the claim without further inquiries. Applying for Advance Assurance is voluntary and you can do this at any time before you make your first claim for R&D tax relief.

Why Work with EVAMAX?

UK R&D Tax Credits Consulting:

The claim process can be daunting. EVAMAX can help you reduce the cost and time of your staff would spend preparing the claim and we would also maximize your claim as well as minimize the risk associated with it. Just leave it to the experts.

Our tenacious & driven team of highly qualified scientists, engineers, and tax experts takes care of the process from A to Z!

This includes:

  • Pre- Claim consultation.
  • Identifying the qualifying activities and expenditures
  • Preparation & submission of the R&D Tax Credit claims to HMRC
  • Handle all inquiries from HMRC post submission

We understand the tax legislation and work on maximizing benefits for our clients.

EVAMAX SERVICE STANDARDS

  • Fast turn-around times responding to your queries.
  • We allocate to each client, a team that specializes in your industry
  • Quality Control: To error proof our submissions, we follow strong procedures & guidelines and conduct peer reviews of submissions.
  • Install the best practices and tools for effective internal controls and documentation process.
  • Always provide you a copy of the finished submission, for your records.
  • Conduct quarterly visit/teleconference to evaluate new projects and update all files under processing.

To schedule a no obligation consultation

For assistance in preparing your submission and to position your application for approval contact EVAMAX Group to help you with the process. You may also email us at info@evamax.com or call 1-877-711-7733.