Assistance with R&D Tax Credits      

R&D tax relief could save your company money when you work with the University.

The R&D tax incentives reward technology development at a practical level and help science based organisations plus engineering and manufacturing companies.
Benefits include:

• Possible double deduction from taxable profits for qualifying R&D expenditure. This means that the your company's net after tax cost of its qualifying R&D could be as little as 45 per cent of the invoice figure.
• Loss-making Small and Medium Enterprises (SMEs) can benefit if you don’t pay corporation tax; you can often surrender yourr R&D tax losses for a cash repayment of 25 per cent of the R&D expenditure, up to the amount of PAYE and National Insurance paid in the period.
• Claims can be made for R&D costs incurred in the last two to three years.
• In some cases, R&D enhanced tax relief can be claimed when the costs have been funded by a third party - even if there is no net cost to the claimant company.
• The incentives apply equally to advances in processes, materials and services as well as products and devices.
• Claims can be made for aborted or failed R&D work.
• You should be eligible to claim on costs paid for R&D subcontracted out to the University.
• The tax repayment is often made within a month.

The claim process is simple but many companies are unaware they are eligible.

The University of Exeter has engaged with Hazlewoods LLP chartered accountants to help our contacts check whether they qualify for R&D tax incentives and gauge the likely benefit from making a claim. Hazlewoods' are experts in the field and offer an initial free consultation.

For more details please see the R&D Tax Relief Factsheet or contact Jess Hurrell on 01392 726209.