What is R&D for tax purposes?

A common question with a complex answer. When claiming R&D Tax Relief, your business must be performing eligible R&D activity – but what is R&D for tax purposes and what is eligible R&D activity?

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When can SME’s claim using the RDEC Scheme?

Small to Medium Enterprises (SMEs) primarily use the SME Scheme for their R&D Tax Relief claims; however, there are some occasions where a SME needs to use the RDEC (Research and Development Expenditure Credit) Scheme too.

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Book a 1-2-1 session to discuss R&D Funding with a TBAT Director

Managing Director, Matt Symonds, and Director, Sam Stephens, have cleared their diaries for 1 day to book one-to-one consultations, to discuss R&D funding opportunities for your business!

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COVID-19 Business Support

In order to support clients during these uncertain times we have collated some of the initiatives currently available to businesses – updated 20th April 2020.

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Smith Cooper join forces with TBAT Innovation

Article written by Smith Cooper.

Smith Cooper are thrilled to share that they have joined forces with TBAT Innovation. The collaboration will see a new R&D online portal launched.

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R&D Tax Credits – HMRC responses to COVID-19

The R&D Tax Credits available from HMRC could prove an invaluable cash boost to those companies that are eligible to claim.

Read more for how HMRC are responding to the COVID-19 pandemic in relation to R&D Tax Credit claims.

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Q&A: The R&D tax credit support available during Coronavirus pandemic

Ian Bolland from Med-Tech Innovation News spoke to Sam Stephens from TBAT Innovation about how manufacturers in life sciences can go about filing an R&D tax credit claim during the Coronavirus pandemic.

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Can I include intangible assets in a R&D Tax Credit claim?

Business owners often assume that their R&D Tax Credit claims can only include the expenses shown in their P&L account, forgetting to consider the Intangible Asset category on the Balance Sheet. However, development costs that have been capitalised under intangible assets can also be included in your claim, if they fulfil the R&D claim criteria.

By excluding them you could be missing out on claiming the R&D uplift of 130% of the cost!

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TBAT’s Local Business Support during COVID-19

During these uncertain times, it’s important to highlight who local R&D focused and highly innovative businesses can turn to, to receive business support to access the additional funds they need.

Find out how R&D Tax and Grant Funding can add additional revenue.

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Budget 2020

11th March 2020 marked the date of the 2020 Budget announcement. We waited in anticipation to find out if there are any notable changes for the R&D landscape and we were in luck!

So, what are the hot topics?

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Where could you reinvest your R&D Tax Relief?

You’ve submitted your R&D Tax Relief claim to HMRC and you know how much ‘credit’ you’re due to receive. Now you’re thinking, “what’s next? How should you re-invest your R&D Tax Credits?”

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TBAT Innovation Limited

Unit 3 Bradley Court,
Maple Road, Trent Lane
Castle Donington
Derby, DE74 2UT

Innovation Centre,
Milton Park,
Abingdon,
Oxfordshire OX14 4SH

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In light of recent updates from the UK Government regarding the COVID-19 outbreak, TBAT have taken the advice given for businesses to ensure employee safety. Therefore, all team members will be working from home, until further notice. We would like to take this opportunity to reassure you that we are operating 'business as usual' while the team are working from home and that we all have the necessary equipment and tools in place to continue delivering services as usual.