R&D tax credit accountants, supporting innovative businesses
R&D tax credit accountants, supporting innovative businesses
Accounting for R&D tax credits doesn't need to be complicated.
As specialist research and development tax accountants in London, our experienced team at Unicorn Accountants has first-class knowledge and wide-ranging experience. From submitting claims to conversing with HMRC to implementing the credits on a tax return, we cover it all.
We work with leading science and technology companies in London and across the UK, helping them with yearly R&D tax claims to make sure they are getting the right amount of relief. We assess suitability against the eligibility criteria and provide an honest assessment of how they can benefit from the R&D tax relief scheme.
Get in touch today for a no-obligation chat about your innovations.
What is R&D tax relief?
What is R&D tax relief?
Research and development (R&D) tax relief is a UK government scheme aimed at rewarding small and medium-sized enterprises (SMEs) for the innovative work they do in science and technology. This means if your business is investing in new products, services, or processes (or improving existing ones), you could be eligible for R&D tax relief.
R&D tax relief allows SMEs to:
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Deduct an additional 86% of your qualifying costs from their taxable profits, on top of the usual 100% deduction. This means a total deduction of 186%.
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Claim tax credits if the company has claimed relief and made a loss
However, there are a number of requirements to be eligible for R&D tax refunds, including the size of your company, the work carried out, and financial elements such as the turnover and amount on the balance sheet for the company. Not to mention the claim process, which can be tricky if you've never done it before. That's why we work with clients to help them feel more confident making R&D tax relief claims.
How we help with research and development tax credits
R&D tax relief is one of the most generous government schemes available to UK businesses, designed to encourage innovation and help companies invest in growth. Yet many businesses either don't realise they qualify, or they miss out on eligible costs because the rules can be complex.
Our research and development tax credit services are there to provide you with the guidance and support you need to ensure you receive the correct credits for yourself and your business.
Here's how we do it:
Eligibility assessment
We'll review your projects against HMRC's eligibility criteria to determine whether you can claim under the SME scheme or the R&D expenditure credit scheme (RDEC) for larger companies. We'll give you an honest assessment upfront, so you know exactly where you stand.
Technical report writing
HMRC requires a clear explanation of your qualifying activities and eligible expenditure. Our team works with you to create a technical report that demonstrates how your project advances science or technology, proving your claim is both strong and compliant.
Claim preparation and submission
We prepare the full claim, pulling together your financial data, qualifying costs (such as staff costs, subcontractor expenses, and materials), and supporting documents. Once the credits have been issued, we then submit an altered Corporation Tax return to HMRC for a back-dated return or apply the credits to the current return period if required.
HMRC compliance
If HMRC has a question or starts an enquiry, you don't need to worry. We will handle it for you. We'll answer their questions and provide the evidence needed to support your claim. With our experience, we know how to submit claims correctly, which helps prevent delays or rejections.
End-to-end support
We take care of everything, from your first call to the final credit appearing in your account. You can relax knowing that your claim is in safe hands, and you can trust that you are getting the best help to get the most out of your relief.
Start your R&D claim process today with Unicorn Accountants
Choose Unicorn Accountants for expert, efficient, and cost-effective R&D tax support. Our end-to-end service is there to support you through the entire R&D tax credit claims process, determining your eligibility and identifying qualifying expenditure right through to submitting the claim.
Let us take care of your innovation incentives so you can focus on growing your business. Simply call us today on 020 8064 0454 to discuss your project or book a discovery call at a time that works for you.
