Research & Development

Research & Development

The Research & Development tax credits scheme is a generous Government initiative designed to stimulate business growth through increased business tax deductions and direct cash injections.

Barnes Roffe LLP has a thorough understanding of the rules of this scheme and can help you maximize your claims.

Many businesses are missing out because they think they will not qualify but the scheme is not just for laboratory based ‘blue sky’ projects. Technological, engineering and computing software projects are just some of the areas that can also qualify. The key criteria are that you are being innovative and advancing knowledge in your field of business.

If you can answer yes to any of these questions then you may be doing qualifying R&D and you need to talk to us.

  • Do you manufacture anything?
  • Do you develop your own software?
  • Do you carry out design work?
  • Do you use existing technologies in a unique way or are they combining existing technologies in a way never previously done?
  • Have you adapted existing technologies to reduce production costs or times, or to reduce waste or improve scalability?
  • Have you developed or adapted computer software?
  • Have you written new computer algorithms or languages?

The SME (Small and Medium Enterprises) scheme allows you to claim a tax deduction of 230% of your actual expenditure on the project. Not all expenditure will qualify but Barnes Roffe LLP has a proven methodology to ensure that your claim will be as complete as possible.

And if you are loss making, you can surrender your loss for a cash refund from HMRC.

Qualifying expenditure

  • Staff costs (salaries, employer NIC etc)
  • Consumable items such as materials and energy costs
  • Software used in the Research & Development
  • Payments to external sub-contractors assisting your Research & Development project
  • Accelerated deductions for capital expenditure

Business areas that have benefited

  • Mechanical Engineering
  • Manufacturing
  • Electronics
  • Construction
  • IT/Software
  • Pharmaceuticals
  • Biotechnology

Barnes Roffe LLP will:

  • Assess your potential claim
  • Collect and audit the necessary information
  • Prepare and submit your claim
  • Deal with any HMRC queries
  • Help you put in place systems for capturing all future projects and expenditure.

If you would like to arrange a more in-depth discussion with our team about our experiences in Research and Development tax credits and whether you are able to utilise these, please contact us at Barnes Roffe for more information.

Download our R & D Fact sheet

July 6, 2023

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July 6, 2023

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July 6, 2023

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