R&D tax relief could be significant

In this briefing we examine how R&D tax relief may be available to many firms who don’t realise they qualify. R&D tax relief is not just limited to research labs. Indeed as our experts explain, you can get relief in situations that may be surprising. Furthermore it is possible to get subsidies for certain types of investments which can provide a critical shot in the arm for firms who could use the cashflow.

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    R&D tax relief could be significant

    Mark Webb

    Mark Webb

    Partner - Corporate Tax, Smith & Williamson

     Mark Webb: “So if we looked at something like Financial Services sector or indeed other sort of slightly sleepy or what you would call mature sectors, you might not think there’s things [...]
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    R&D relief focusses on ‘staff and other qualifying costs’

    Laurence Bard

    Laurence Bard

    Partner - Corporate Tax, Smith & Williamson

     Laurence Bard: “The principle cost is your in-house employees, the costs of their salaries, bonuses, national insurance, pensions.  If you subcontract R&D out to another company that [...]
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    Defining R&D – plenty of grey

    Laurence Bard

    Laurence Bard

    Partner - Corporate Tax, Smith & Williamson

     Laurence Bard: “If someone has an idea and it involves some sort of scientific or technological development, the question is are they able to develop it simply or does it actually involve [...]
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    How R&D tax breaks can work brilliantly

    Laurence Bard

    Laurence Bard

    Partner - Corporate Tax, Smith & Williamson

     Laurence Bard: “You normally get a straightforward tax deduction for a business expense.  You spend a pound you get a tax deduction of one pound.  If you are, what can be actually almost [...]
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    R&D not just limited to labs

    Laurence Bard

    Laurence Bard

    Partner - Corporate Tax, Smith & Williamson

     Laurence Bard: “The obvious examples might be pharmaceuticals, men in white coats and test tubes.  Another obvious example would be automotive, you know, Jaguar, Land Rover developing weird [...]
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