R&D Tax Relief
OUR EXPERTISE
We are a team of experts formed in order to ensure that smaller companies get the expert tax, innovation funding and financial advice that larger corporations have access to.
We understand that some companies don’t have the time or resources to navigate the complexities of HMRC regulations, but with our in-house R&D Tax Relief and technical specialists, we are able to understand your business and help you produce a robust claim.
Comprised of Big 4 trained Chartered Accountants, Chartered Engineers and an extremely well-versed Business Development cohort; we offer a more than qualified innovation funding team capable of being your partner.
OUR Services
R&D Tax Credits
SME R&D Tax Relief
RDEC - R&D Expenditure Credit
Enquiry Support for R&D Claims
What is it?
Research and Development (R&D) Tax Credits are a Government-led scheme set up in the year 2000, designed to reward businesses investing in innovation. R&D Tax Credits offer financial aid to eligible businesses to further support their research and development, hire new employees and ultimately grow their business.
If you are designing, developing, or improving a product or service, or solving a problem with no existing solution then you could be eligible to claim. The scheme works by reimbursing a percentage of your development expenditure. Your relief can be delivered as a refund, a reduction on your tax corporation bill, or a cash lump sum.
“They were professional and speedy from the point of contact and i would highly recommend Harmoney to act on your behalf.”
“Great experience working along side Harmoney. Excellent service in dealing with our R&D tax claim. Couldn’t recommend highly enough.”
“5 Stars! I will proudly recommend Harmoney to any business needing help with their tax claim.”
FAQ
Is my business eligible for R&D Tax Credits?
To benefit from the scheme you must:
- Be a limited company in the UK
- Have carried out qualifying R&D Activities
- Have spent money on these projects
What are R&D Tax Credits?
To put it simply, R&D Tax Credits were set up by the Government 20+ years ago as an incentive designed to reward businesses for investing in Research and Development.
How long does the Research and Development claims process take?
From the moment we have our first conversation with you until the claim is successfully completed, takes on average 6 – 8 weeks.
How far can we claim back for R&D tax credits?
You are entitled to claim back two retrospective financial years.
What costs qualify for R&D Tax Credits?
Costs which qualify for R&D Tax Credits are:
- Staff salaries, reimbursed expenses, pension contributions and employers NIC
- Subcontractors
- Software
- Consumables
How much will we get back?
The amount you will receive depends on how much you spend on a number of things, such as PAYE salaries, sub-contracting costs, materials and software licences. From your first consultation, we will be able to offer you an accurate calculation on what you should expect to receive back.
If we haven’t answered your question or you wish you talk to one of our Consultants please get in touch and we will do our best to help with your query.
Harmoney Consulting Group, a company incorporated under the laws of Scotland, and having its registered office at: 272 Bath Street, Glasgow, G24JR.
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Registered number: SC661102
