Research and Development

Research and Development

Beever and Struthers provide businesses with support in accessing and claiming Research and Development (R&D) tax credits and the creative sector tax relief. 

There are two main tax relief schemes available to Small or Medium-sized Enterprises (SMEs) carrying out R&D activities in the UK:

R&D Tax Credit Scheme
Available to UK Limited companies attempting to improve a product, service or process through technological advancement.

The main benefits are:

  • Companies are able to deduct up to 230% of the qualifying expenditure to reduce their taxable profits and therefore corporation tax liabilities.
  • If the company is loss making, HMRC will pay the company for the R&D element of the loss at a rate of 14.5%.

R&D Expenditure Credit Scheme (RDEC)
Available to UK Limited companies who have incurred expenditure attempting to improve a product, service or process through technological advancement on or after 1 April 2013.

The main benefits are:

  • A taxable credit paid at the rate of 11% which is then taxed, resulting in a net benefit of 8.8%.
  • Loss making companies can offset the benefit against future tax liabilities.

Who can claim R&D tax relief?
To be eligible for R&D or RDEC tax relief, a company must meet the definition of a SME for R&D Relief purposes:

  • Have been in operation for at least one year.
  • Have a turnover less than £100 million and assets on the balance sheet of less than £86 million.
  • Have less than 500 employees.

How do you claim tax credit?

  • You need to submit a corporate tax return, together with a detailed report containing the figures backing them up.
  • Alternatively let Beever and Struthers prepare everything for you to submit to HMRC.

Why use Beever and Struthers?

  • We will prepare the report for no fee.
  • You will only need to pay us if we are successful.
  • Beever and Struthers have been submitting claims since 2000 and we have received over £8 million in tax repayments and savings for our clients.
  • We have submitted R&D tax credit claims for companies operating in most industries, including engineering, manufacturing, software production and retail.

If you would like to discuss our services in more detail please contact our Tax team on 00 44 161 832 4901 or email tax@beeverstruthers.co.uk

 
Our locations

Manchester
St George's House
215-219 Chester Road
Manchester M15 4JE

T: 00 44 161 832 4901
E: manchester@beeverstruthers.co.uk

 

 Blackburn
 Central Buildings
 Richmond Terrace
 Blackburn BB1 7AP

 T: 00 44 1254 686 600
 E: blackburn@beeverstruthers.co.uk

 

Birmingham
The Colmore Building
20 Colmore Circus Queensway
Birmingham B4 6AT

T: 00 44 203 478 8400
E: enquiries@beeverstruthers.co.uk

 

 
 

  London
  15 Bunhill Row
  London EC1Y 8LP


  T: 00 44 203 478 8400
  E: london@beeverstruthers.co.uk

 
        

We are registered to carry on audit work in the UK and regulated for a range of investment activities by the Institute of Chartered Accountants in England and Wales. Charles MacMillan is licensed to act as an Insolvency Practitioner in the UK by the Institute of Chartered Accountants in England and Wales. Details about our audit registration can be viewed at auditregister.org.uk for the UK (reference number 5386251). Our statutory audit work is subject to the Audit Regulations and Guidance issued by ICAEW, International Standards on Auditing (UK) and the Auditing Practices Board’s Ethical Standards promulgated by the Financial Reporting Council of Aldwych House, 71-91 Aldwych, London WC2B 4HN.

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