Is your work eligible for R&D tax relief?

You may have heard about the government’s R&D tax credits scheme and wondered if you were eligible for it. Before you spend too much time on it, you can figure out quickly if it's likely that you are eligible.

How advanced does my work have to be?

If you are doing gene therapy then great, you can claim! Most of us aren't though, and you might think that working in packaging, or in moving things about, or in metalwork or software means that you can't claim. We've claimed for all of these, and more.

Think about your company's working week, and think about how much of the time you are solving problems. If you are scratching your head over problems on a regular basis then it's worth looking at the scheme. 

Is your work creative or technical?

The legislation makes a clear distinction (along with a long, long list of other areas) over the difference between creative and technical work. Highly skilled craftsmen making luxury leather goods are most likely not undertaking R&D, but highly skilled engineers figuring out how to achieve a very high tolerance result could well be.

Can you claim if you are working for other people?

You might think that solving problems for other people might mean you are ineligible to claim tax relief on your work. Though the details can be tricky, working for another company does not necessarily stop you claiming your own tax relief.

Do you claim yourself or use a specialist?

These are just a few of the eligibility criteria that you have to know about, and whilst they are the most important when it comes to looking at the work you are doing there are many more, and that's before the tax computations side. Learning about all the detail takes a long time, and employing a specialist like us is often a better balance of time vs reward.

 

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