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Tax Credits for large companies and SMEs who invest in R&D

There are two schemes, one for large companies and another for SME’s. The SME scheme gives relief on qualifying costs of 26p in the £ and up to 32p for companies with losses.

To qualify:-

Your company must be eligible for Corporation Tax (which usually means you need to be a Limited Company)

You must have fewer than 500 employees

You must have an annual turnover of less than £100 million and total assets worth less than £86 million

For larger companies HMRC have now made the large company scheme much more advantageous by introducing the Research & Development Expenditure Credit (RDEC). This allows larger companies from the 1st April 2013 to recognise the benefit of their research and development spend effectively as a grant against cost.  Loss makers are also now able to claim cash back from HMRC.  Unlike the existing schemes which only had a cash value if the company was paying Corporation tax, the new credit is payable regardless of the tax position.

To find out how we can help

Call Bill Loryman: 01327 340 408

or Email us

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