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What are R&D tax credits?

If your company carries out research and development then you may be eligible for R&D tax credits, which can reduce your tax bill or increase taxable losses.

HMRC’s R&D tax credit scheme has been around since 2000. Last year over 39,000 companies claimed almost £3.5 bn in tax relief.

The scheme is only for Limited Companies (not partnerships or sole traders) and different rules apply depending on company size.

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Am I eligible?

All sorts of businesses in all kinds of sectors are eligible. Use our simple test to find out if you might be.

What costs can I claim?

For eligible projects, it is the money spent on salaries, externally provided workers, subcontractors, software, utilities and materials ‘consumed or transformed’, such as such as chemicals, materials, batteries and certain forms of tooling.

Try our benefit calculator to find out how much you might be able to claim.

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How do I claim?

You could do it yourself

More information on how to do this is here

You could ask your accountant to do it.

However, most accountants are not R&D tax claim specialists. You may have to do most of the work yourself, and there’s a risk that your accountant may not be able to identify all your eligible activity, or be confident in writing a technical narrative to justify the claim.

Or you could just get expert help in the first place.

To find more about R&D tax credits, and how Jumpstart can help:

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Jumpstart your R&D tax credits…Call us on 0844 967 2626