Government Backed
R&D Innovation Incentives

Try our 15 second eligibility checker below! It’s super fast.

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your businessindustry sectorfinanceclaim

Do the following apply to your business?

You are spending money on developing
new products, processes or services.
You employ staff or pay freelancers across
a variety of roles that assist in developing
these products, processes or services.
You started the work in the last 2 or 3 years

What sector is your business?

Are you spending money on any of the following?

contractors
staff
Raw materials
utilities

Great! You should be eligible!

Book in a free consultation to see how the
Audeo team could help you claim yours.

What are R&D Innovation Incentives?

In a nutshell, R&D tax credits and innovation incentives are a way for businesses to be reimbursed for any type of development endeavour they carry out. Any company that spends money developing new products, processes or services; or enhancing existing ones, are eligible for either a cash payment or corporation tax reduction. How good is that?

How much is an R&D tax credit claim worth?

R&D tax credits are calculated based on your R&D spend. To make an R&D credit calculation, you need to identify qualifying expenditure and enhance it by the relevant rate. This produces your ‘enhanced expenditure’.

When you deduct your enhanced expenditure from your taxable profits, or add it to your loss, it will result in one of three things..

A Reduction

reduction in your Corp Tax if you are profit-making

Cash

a cash credit if you are
loss-making

Combination

or a combination
of the two

Okay.. so we've made something cool.. what costs qualify?

1. Staff, including salaries, employer’s NIC, pension contributions and reimbursed expenses.
2. Subcontractors and freelancers.
3. Materials and consumables including heat, light and power that are used up or transformed by the R&D process.
4. Some bits of software.

Okay.. so we've made something cool.. what costs qualify?

1. Staff, including salaries, employer’s NIC, pension contributions and reimbursed expenses.
2. Subcontractors and freelancers.
3. Materials and consumables including heat, light and power that are used up or transformed by the R&D process.
4. Some bits of software.

FAQ

Most frequent questions and answers

Usually the process takes around 3-4 weeks from the day we start. This is enough time to run through previous expenditure, assess the claim amount and complete the report. Our team handles all of the work, we’ll need some accounts information which is detailed on our checklist, you’ll receive this once we engage with your company.

We work with an expert team of advisors and accountants to make sure that every cost submitted for R&D credits is eligible. For this reason, we have a 100% track record in every claim submitted to HMRC.

Most accountants are very good at dealing with the standard business requirements such as annual accounts and payroll but many are not familiar with the R&D scheme. Our expert team can guide you through the process and write the supporting report.

The good news is that we can arrange for R&D credits to be claimed for the previous 2 financial years, the sooner this can be done the better. We’ll then assist with preparing everything for the current financial year and supporting you and your company for as long as the R&D credit scheme is available.

Whilst the scheme has been available for many years now, it’s quite common that businesses are unaware of it. Quite often the official guidelines and information is not particularly user friendly, it can be quite confusing for busy business owners. We also find that many businesses are not aware it applies to them yet it costs nothing to find out with Audeo!

Get in touch!

We love to chat.. so drop us a line and blow up our inbox.

What counts as R&D?

Creating new products, processes or services.

Changing or modifying an existing product, process or service.