Corporation Tax: R and D Tax Relief

Gov.uk

What does it do?

R&D is a Corporation Tax (CT) tax relief that may reduce your company’s tax bill. This tax relief can only be claimed if your company is liable for CT.

What will the benefits be for me?
If you’re just claiming relief, this will reduce your company or organisation’s profit chargeable to CT for the relevant accounting period. There’s nothing further for you to do.

But if you’ve chosen to give up your enhanced relief to receive tax credits instead, or if you’ve submitted a claim to carry back a loss to be set off against profits of a previous accounting period, HMRC will make the payment after they receive your return.

If you’ve claimed a payment and HMRC opens a compliance check or enquiry into your return, they may agree to make interim payments. When the enquiry is concluded the balance will be paid.
How do I access the service?

The way you claim tax relief depends on the size of your company:

 

 

How much will it cost

To make a claim the service if FREE. Guidelines of how to claim can be found: https://www.gov.uk/guidance/corporation-tax-research-and-development-rd-relief