We know R&D tax is a complex corner of the UK tax code. At Inventya, We ensure we streamline the process and provide clarity from the start and make sure you have full visibility of the work we carry out.
At Inventya, we understand there’s no universal blueprint for R&D tax advice. That’s why our team can tailor our well-honed process to be versatile according to your business needs, from a full service to a review of your claim. Below is a glimpse of our process as an indicator of the steps you can anticipate during our collaboration.
Why not receive a free review? Take advantage of our complimentary eligibility check to see if your company qualifies for R&D tax credits. Our team of experts will conduct a thorough review of your R&D projects at no cost to you, assessing your potential to make a successful claim.
Seamlessly kick off your R&D tax credit journey with our efficient managed service contract setup. We ensure a smooth and hassle-free commencement to the process.
We collect all of the necessary information in a couple of steps. Our experts undertake a thorough analysis of your details, considering both technical and financial facets. In an extensive R&D consultation, we dive deeper into your innovative projects to understand them completely.
Rest assured, we will support you all the way through the process. Our team crafts a detailed technical narrative and financial report meeting HMRC requirements. Our specialised knowledge guarantees precision and compliance.
Transparency is key to us. You will review our reports, offer your input, and give the final approval before any submission is made.
Almost there. We handle the entire process of submitting your R&D tax credits claim to HM Revenue and customs (HMRC). Our team ensures all necessary documentation is prepared and submitted smoothly.
How long do I need to wait? It should take 40 days to receive the R&D relief into your account. We are also happy to communicate with HMRC on your behalf to check the claim status.
A first-of-a-kind solution, powering your growth plans while enhancing ROI. This is achieved through a partnership incorporating a bespoke variety fo our services, e.g grants, R&D tax, IP, Consultancy, Compliance, Project Management, M&A etc.
raised for our clients
"Inventya have been excellent in helping to support NEPESMO both through external funding and tax credits."
Neil Patel, NEPeSMO
R&D tax credits are a type of tax relief offered by the UK government to support companies engaged in projects innovating the field of science and technology. They provide a reduction in corporation tax or a cash payment to eligible businesses.
To be eligible for R&D tax relief, the project must be aimed at making an advance in science or technology. It should seek to overcome scientific or technological uncertainties which relate to your company's trade. Please click here to access the definition of R&D for tax purposes.
Projects in the arts, humanities, and social sciences, including economics, do not qualify for R&D tax relief. Claims that are rarely eligible include those made by care homes, childcare providers, personal trainers, wholesalers and retailers, pubs and restaurants. The focus is on projects with a scientific or technological basis.
Furthermore, simply replicating existing products, processes, materials, or services won’t qualify as R&D.
You need to show that there was uncertainty in achieving the desired advance and that professionals in the field could not easily solve it. This can be demonstrated through research, testing, analysis, and documenting the successes and failures encountered during the project.
There are two main types of R&D tax relief: SME R&D tax relief and R&D expenditure credit (RDEC). SME R&D tax relief is available for small and medium-sized enterprises, while RDEC is for large companies or SMEs which were subsidised to perform R&D.
To claim R&D tax credits, you must include the relevant information in your Company Tax Return. It's important to follow the necessary steps outlined by HM Revenue and Customs (HMRC), which may include submitting claim notification forms and additional information forms.
Inventya provides expertise in R&D tax credits and can assist your company throughout the full claims process. Our experienced team can guide you in determining eligibility, preparing the necessary documentation, and maximising your claim. We are fully flexible in our approach as per your needs.
If you believe your company may be eligible for R&D tax credits, contact Inventya for a consultation. We offer a free initial assessment to determine your eligibility and provide guidance on the next steps to take in when making your claim.