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When you’re undertaking R&D, there is no guarantee of project success, this is why you’re furthering your testing and research by using R&D. Claiming tax relief for unsuccessful R&D projects is not only allowed but is encouraged as a policy under the R&D Tax Credits Schemes.

One of the phrases that is commonly used by HMRC, is the title of ‘Competent Professional’. This article details who a Competent Professional must be and how they fit into an R&D Tax Credit claim. 

If you’re a business that performs research and development, or R&D, you could be eligible to make an R&D Tax Claim. We’ve put together a simple guide, detailing how to submit a R&D Tax Credit claim.

Can you claim R&D Tax for New Product Development (NPD)? A question with a complex answer when you consider how R&D is defined – however the short answer is ‘yes’, providing you have overcome a technical challenge to develop your new product!

Wow! What a year 2020 has been! As business owners, a nation and a world, we’ve faced a strange year including rapid changes, challenging times and uncertainty. In this blog, we will review 2020 and some expectations for 2021.

HMRC has identified and prevented a number of fraudulent R&D Tax Relief claims, worth over £300m in total. Their preventative measure of a PAYE cap is set to be introduced on 1^st April 2021.

The Med-Tech industry is striving to create new technologies that deliver innovative, flexible and efficient diagnostic solutions for healthcare practitioners. It’s one of the largest, growing industries in the UK right now. Claiming R&D Tax Relief for the development of these technologies can help re-coup a significant proportion of these costs.

TBAT Innovation Ltd are proud to welcome 5 new members to their team and celebrate their continued growth throughout this pandemic.

Due to the amount of money large companies are likely to be spending on R&D – the RDEC Scheme can be extremely beneficial! The Research and Development Expenditure Credit (RDEC) offers Large Enterprises a tax credit incentive of 13% on all qualifying R&D expenditure.

When we think of R&D, we typically think of scientists in white lab coats and in the case of the Pharmaceutical industry, we’ve hit the nail on the head! However, there are thousands of businesses within it, that are still not taking advantage of the UK’s Pharmaceutical R&D Tax Relief.

It’s that time of year again – HMRC have released their yearly R&D Tax Credit report, detailing the breakdown of the most recent years claims!

Businesses all over the UK are missing out on the benefits that claiming R&D Tax Credits could offer their company. This blog covers some of the basics that make a business eligible to make a claim for R&D Tax Relief.