R & D Incentives
At Wylie & Bisset we work with our clients to help them understand the complexities of R & D incentives.
Many companies are unaware there is a valuable approved tax relief available to them when they innovate developing technologies and improve processes to make what they do more efficient and easier to manage. Lots of companies are investing in R & D without realising that is what they are doing.
At Wylie & Bisset we have 100% success rate in our R&D tax submissions to date.
We work with our clients to help them understand the complexities of the relief and review their project spends to maximise their claims - ensuring they get the maximum benefit from their innovation and knowledge. Even unsuccessful innovation can obtain relief.
What is it worth?
Depending on the size of company the relief can be worth thousands.
SMEs are entitled to claim an additional deduction of 130% of the amount of qualifying R & D expenditure. This means we can deduct a total of 230% to arrive at their adjusted taxable profits. Where the company is loss making, the company can claim a tax credit worth up to 14.5% of the surrenderable loss.
Large companies are entitled to R & D relief using the ‘Research and Development Expenditure Credit’ (RDEC). The RDEC is calculated at 13% of the qualifying R&D expenditure. This amount will either reduce the company’s corporation tax liability or will be repaid to the company as a cash payment if there is no liability. The RDEC is also available to SMEs who do not qualify for expenditure under the SME regime.
Whatever your industry we can help access much needed funds to help companies grow and innovate.