R&D Tax Credits

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Research and development (R&D) tax credits were introduced for small and medium sized enterprises (SMEs) in 2000 and for large companies in 2002. R&D credits are a form of corporation tax relief to encourage innovation and enterprise within the UK economy.

Small and medium-sized enterprises (SMEs) can claim SME R&D tax deductions totalling 230% of any qualifying R&D expenditure (from 1 April 2015). You can also claim a tax credit even if your company is not making a profit.

The rules for claiming R&D tax relief are very generous and, from a tax point of view, many of your business activities could qualify for relief, not just those involved in very specific scientific type research.

To qualify for R&D relief you need to explain to HMRC how a project:

  • looked for an advance in science and technology;
  • had to overcome uncertainty;
  • tried to overcome this uncertainty;
  • couldn’t be easily worked out by a professional in the field.

R&D tax relief can be used by companies that are developing new or improved systems, processes, services or products in the areas of technology or science. The R&D project in question must relate to the company’s trade and can be used by an existing company or by new start-ups.

Items that can be claimed should be used directly in qualifying R&D projects. These include operating expenses, staff and materials (including the proportion of water, fuel and power consumed in the R&D process). 

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Advance Assurance

Small companies that haven’t claimed R&D before and have an annual turnover of less than £2 million and less than 50 employees can apply for Advance Assurance. This allows small companies to be able to be sure they can claim R&D tax credits before embarking on significant expenditure. Once accepted, HMRC will allow claims without further enquiries for the first 3 accounting periods of claiming R&D relief.

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Schoolgate Accounting Services Ltd
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Juan Pablo Cortes
Juan Pablo Cortes
15:35 29 May 18
Schoolgate has provided a very professional service from the outset of my relationship with them. I was approached... directly by them as a new company incorporated in Companies House. Even though I quoted with 2 more service providers Schoolgate beat them in term of cost and service. They have always offered a personalised service and are available for any requirements. They currently deal with my company and personal tax issues and I have not had any issues or complaints. I've been working with them for almost 2 years and I look forward to continuing working with them.read more
Meruert Rakhimova
Meruert Rakhimova
09:07 09 Apr 18
The firm has adopted an extreme customer oriented culture. As a client of Schoolgate Accounting Services, you are... likely to receive bespoke comprehensive accounting and para-financial services as "business as usual", whereas many accountants I have hired before charged for every single mental effort. With this firm I have a peace of mind that my company's affaires are professionally handled so my business is prudent before the U.K. regulator. The team at Schoolgate Accounting goes extra mile to ensure I have full answers to my questions and genuinely embraces vision of my company, which differentiates them from mainstream accountancy firms who tend to treat you as just another 'source of business'.read more
Filomena Thong
Filomena Thong
20:00 05 Apr 18
Luda and her team have been very helpful, supportive and professional since day 1. Luda is very personable and always... makes the time to respond to emails/calls even outside of hours. No task is too small or too big and you know they have your interests at hand. Bonus that they are local! Highly recommend.read more
Alena Kaplan
Alena Kaplan
16:22 04 Apr 18
We switched to Schoolgate accounting services one year ago after a terrible experience with one accounting firm. I... couldn't be happier. For about the same cost, I get competent, responsive, timely tax and accounting services for our two small limited companies. And I absolutely love our accountant, Luda - she is very efficient, diligent and sharp. Almost all of the work is done by Internet/email/phone, so the distance is no matter.read more
Oxy S
Oxy S
23:12 03 Apr 18
I have been using Schoolgate Accounting services for about two years now and I am extremely pleased. They are very... professional, prompt and very knowledgeable. Their billing system is transparent and tailor made for each business or an individual. The owner of Schoolgate Accounting Luda Beanland is a very charming and very experienced chartered accountant and tax advisor. It is always a pleasure to come to their offices. I can only highly recommend this company.read more
Pearl Cheng
Pearl Cheng
09:36 03 Apr 18
I used Schoolgate Accounting Services for my T1 Visa Application. They have provided me strong, efficient, professional... and responsive support. Without them I could not pass the application successfully and get my visa. All the staffs at Schoolgate are professional, patient and helpful. They think for you more than you do for yourself. I am so happy with Schoolgate's work that I have shifted all my business to them event after the application, Because I know they are trustworthy and reliable.read more
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