R&D Tax Relief & Credit Specialists

What is Research & Development (R&D) tax relief?

It’s surprising how many companies believe they don’t carry out Research and Development, even if they do they aren’t always aware that they may be able to claim some tax relief. There can be huge benefits to claiming this tax relief so it’s advisable to talk through the options with a taxation specialist.

The Criteria for Research and Development Tax Relief

The type of expenditure incurred on activities relating to R&D needs to be considered and can fall into different categories such as; employment costs, work done by externally provided workers, software, costs of materials and any clinical trials.

To receive R&D relief you need to explain how a project:

looked for an advance in science and technology
had to overcome uncertainty
tried to overcome this uncertainty
could not be easily worked out by a professional in the field

Determining which projects might qualify for R&D relief and what activities can be taken into account does require some professional advice, something Rayner Essex is able to provide.

Introduction to the New Merged R&D Scheme (MRDEC)

The UK’s R&D tax relief landscape has undergone significant reform with the introduction of the merged R&D tax relief scheme, effective for accounting periods beginning on or after 1 April 2024.

This new scheme is broadly aligned with the R&D Expenditure Credit (RDEC) for large businesses, and merges with the enhanced tax relief and payable credits for qualifying Small and Medium Enterprises (SME) regime to create a unified framework.

The new Merged R&D Scheme has been designed to streamline, modernise and simplify the tax relief process for UK companies, aiming to encourage more consistent investment in innovation across all company sizes. This merged scheme is sometimes referred to as the R&D single scheme, simplified scheme or new RDEC.

How can Rayner Essex help you with your R&D tax relief claim?

With the recent changes in R&D legislation, understanding which costs are eligible and interpreting the relevant legislation and rules can be complex. Additionally, the process for making a claim and ensuring the necessary associated documentation is completed and filed correctly; can also be challenging.

At Rayner Essex, our dedicated in-house team is here to support you in maximising the value of your R&D claim. Whether you simply require a review of a claim prepared in-house or would prefer us to manage the entire process on your behalf, we offer expert guidance every step of the way to ensure your claim is accurate, compliant, and optimised.

Get in touch

We have a highly regarded tax team that specialises in making R&D tax relief claims on behalf of our clients across the UK.

Initially we will consider your business activities and any areas that you feel might qualify for relief and we will then help determine whether or not your claim will meet the qualifying criteria. Thereafter we will assist you with making the claim.

For our international clients we are able to provide support through our membership of INPACT International, a global alliance of accountancy firms.

Get in touch

Meet our R&D experts

If you want to find out more or to discuss your specific business requirements, don’t hesitate to get in touch. Our Chartered accountants in London and St Albans accountants below will be happy to help.