Start Ups and Young SMEs

Most companies in the UK are claiming Research and Development Tax Credits. However, RDP Associates continues to come across many recently incorporated SMEs and start-ups. Who either may not know about the R&D Tax Credit programme and/or have heard about it and wonder if it applies to them.

Some companies, certainly those that have not claimed R&D Tax Credits before, think that this programme is limited to companies that have patents and/or have created or modified a product or process that is not available in the marketplace.

The R&D Tax Credit programme applies to companies that apply for patents, and ALSO those companies that are in other industries, such as engineering, manufacturing, or software, etc.  For example, if you are a recently incorporated company and are working on an AI solution or an engineering company. Which has come up with a methodology that is new to your company (even while your competitors might be doing something similar). These types of activities more likely than not will be eligible for the R&D Tax Credit programme.

Claiming Research and Development

To qualify, does your company do any of the following?

claiming Research and Development
  • Developing New or Improved Products?
  • Develop New or Improved Processes?
  • Develop Prototypes?
  • Employ Technical Professionals (engineers, software and/or app developers)?
  • File, or Been Issued any Patents?
  • Encounter Design or Development Problems?

If the answer is yes? Your company has a high likelihood of being eligible to file an R&D Tax Credit Claim. You can take our eligibility test here: UK’s Leading R&D Tax Credit and Grant Consultancy | RDP Associates

As the R&D Tax Credit programme continues to evolve and more companies are claiming R&D tax credits year over year, the government is implementing a variety of changes (Key Points From The 2021 Budget Announcements – RDP Associates ). Including new rules that are applicable to Start-Ups.

An example of an additional change that will apply in 2023, is that all claimants will need to apply and submit R&D Tax Credit claims through an HMRC online portal.

Complementary Assessment

RDP start with a quick 15-minute meeting to learn about your company. Advise R&D eligibility and at the end of the meeting, provide an estimated range of your Tax Benefits.  Once we determine an R&D Tax Credit claim can be made, we convey how our R&D Tax Credit Claim process works. Where most importantly, the onus of the work is conducted by RDP Associates. 

We only require a 1 or 2 short meetings to determine what your objectives are. Examples of some key issues that arose and the key steps taken to resolve these issues. We also ensure your claim is “bullet-proof” to ensure there is no subsequent queries from HMRC.

Contact us here for a free consultation!