Research & Development
Welcome to our page dedicated to helping you with R&D Tax Relief
Tax Reliefs for research and development
Did you know if your company does or has done qualifying Research and Development, you will be entitled to tax reliefs resulting in either; a cash refund for overpaid company tax, a reduction in company tax now and for future years or an immediate cheque to cover some of the costs of the research and development.
What is R&D?
It all begins with an idea. Maybe you want to launch a business. Maybe you want to turn a hobby into something more. Or maybe you have a creative project to share with the world. Whatever it is, the way you tell your story online can make all the difference.
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Why you should claim tax relief for research and development?
The tax relief for the SME scheme works by uplifting the direct costs of the research and development by 130% for expenditure up to 31 March 2023 and 86% from 1 April 2023. If your costs for the research amounted to £100,000, your taxable profit would be reduced by a further £130,000 to 31 March 2023 (£86,000 thereafter) meaning you save tax or should have tax refunded of £26,000 to 31 March 2023 (£18,600 thereafter).
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Do I qualify for R&D tax relief?
If your company has developed, adapted, improved, or integrated products, systems, or processes then there is a good chance you qualify for R&D tax relief.
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How can WR Partners help you with tax relief?
We will try to fully understand your business objectives to identify and support a claim for Research and Development tax relief. We will also help you to capture all the costs of the research to maximise your claim now and going forward.
“Being an online furniture retailer we thought that R&D tax relief only applied to new scientific products but when WR Partners explained that it applied to our integrated order, supply, delivery system to deliver furniture to the exact customer requirements, we were delighted with the refund and on-going tax savings. ”
— Online Furniture Retailer
