Research & Development Tax Credits
“Although we are researching and developing ideas we never thought it would tick the box of ‘official R&D'”
Research and Development (R&D) tax relief is the UK’s most generous Corporation Tax relief. Despite this, thousands of claims aren’t submitted by companies that qualify and would benefit from this generous regime.
Mitchells work alongside external R&D specialists, who do this day in and day out, which means they have unparalleled experience to assist you with your R&D tax relief claims.
Retrospective claims can be made for the past two accounting periods which can often result in a significant repayment of Corporation Tax, or if a company is loss making, a claim for R&D tax credits.
It’s important to find out if a claim can be made as soon as possible, so as not to miss any year end deadlines.
We can look at past, present and future development activity to maximise your R&D tax relief opportunities.
Speak to an expert…
Liz Fisher
Associate Partner
%
possible rate of R&D expenditure tax relief from 1 April 2023 (230% prior)
R&D Tax Credit Claims in 2020-21
(£ Billion) qualifying R&D expenditure in 2020-21
Our services include…
Outstanding success rate.
Our R&D specialists have an outstanding success rate with R&D claims, making over 500 claims per year with less than 1% receiving any kind of interrogation from HMRC.
Smooth process throughout.
Our R&D specialists have developed a tried and tested technical and financial template to ensure R&D claims meet all legislative requirements of the tax relief. Their reporting formats have been fine tuned over many years to ensure all qualifying expenditure and activity is documented in a manner which is clear, concise and accurate.
Simple fee structure.
We charge a percentage of the tax saved or repaid resulting from the claim. Our fees are only payable when you have received the benefit of the claim, whether that be a reduction in a liability or repayment of tax from a prior period.
Our fees cover everything from the initial client meetings, the compilation of the claim itself and any subsequent liaison with HMRC to ensure the claim is accepted. We do not charge disbursements on our fees nor do we charge clients who we have visited, only to discover a claim is not feasible or worth pursuing.
Typical qualifying claims for the following industries:
Adhesives, Sealants, Chemicals & Paints >
Clothing, Textiles & Fabrics >
Manufacturing, Engineering & Electronics >
Security, Lighting & Electrical >
“We had always assumed that although we are researching and developing ideas we never thought it would tick the box of ‘official R&D’. The tax rebate we claimed covered an entire yearly salary for one of our staff. I’d suggest that everyone explores the option of a claim because like us you might be blown away.” – Renewable Energy Company
How can we help you?
