Since the R&D tax credits scheme was introduced in 2000, Harrison North has built up a reputation as one of the country’s most accomplished firms in this field. We take care to ensure projects are viable before starting the process and do not proceed with engagements until we are satisfied all criteria of the scheme have been met. The strict conditions regarding qualifying expenditure mean expert knowledge is required to claim the maximum amount permitted under the legislation.

For companies investing in R & D the repayable tax credit is often a vital part of their financial strategy. Other companies may embark upon a one off R & D project for which a claim will improve their cash position either through receipt of a refund or by reduction of corporation tax payable.

We are able to provide assistance to companies operating in any industry whether or not a claim has previously been submitted. Harrison North can also, in special circumstances, review and advise on the status of existing claims.

It is important that full consideration is given to whether a valid claim exists; many companies fail to identify this lucrative tax incentive despite clearly satisfying the necessary criteria. Our simple guide below should indicate whether a claim should be considered.

Should I Consider Making an R&D Claim for my Company?

  • Is the company liable to corporation tax?
  • Is the company a going concern?
  • Does the company produce a product or provide a service which is considered innovative in its field?

If you are able to reply yes to each of the above questions, then you should consider making an R&D claim under either the Small and Medium Enterprises (SME) scheme (225% relief) or the Large Company Scheme (130% relief). If you are able to claim under the SME scheme then you can potentially receive a repayable tax credit of up to £24.75 for every £100 of R&D expenditure incurred. From 1st April 2013, large companies with no corporation tax liability will be able to receive a payable tax credit equivalent to 10% of qualifying expenditure.

Please contact us for any more information or if you want to discuss the options for pursuing a claim.