We specialise in offering guidance and advisory services support with the Research and Development (R&D) Tax Relief and the Patent Box regime. These schemes are specifically designed to encourage innovation, fostering economic growth in the UK.
R&D Tax Relief serves to incentivise businesses that invest in innovative solutions, products, processes, or services, aiming to resolve scientific or technological uncertainties. This relief isn’t exclusively for ‘science and tech’ companies – any industry can potentially benefit.
Various expenditure types qualify for R&D Tax Relief, including staff costs, software, consumable items, subcontractor costs, and externally provided workers. We will assist you in identifying all eligible costs to ensure you optimise your claim.
The SME R&D Relief and Research and Development Expenditure Credit (RDEC) are the two available schemes. SME R&D Relief provides a higher rate and is specific to small and medium enterprises, while RDEC caters to larger companies. Our expert team can help determine the most suitable scheme for your business.
The process of claiming R&D Tax Relief can be intricate and requires comprehensive technical and financial documentation. We will guide you through every step, from recognising qualifying projects to preparing and submitting the claim.
The Patent Box regime offers a reduced Corporation Tax rate on profits earned from qualifying patented inventions. Patents must be granted by the UK Intellectual Property Office, the European Patent Office, or certain other EU member states’ patent offices.
Income from several sources may qualify for the Patent Box, including sales of patented products or processes, licensing or selling patent rights, infringement income, and patent-related compensation. Our team will help identify all eligible income streams for the Patent Box regime.
Calculating Patent Box profits involves tracking income and expenses at the product or patent family level. This can be complex, but our experienced tax advisors will simplify it, ensuring precise calculations to maximise your tax savings.
Why work with us?
At UK Tax Advice and Accountancy, our services extend beyond R&D Tax Relief and the Patent Box. We cover all aspects of tax, committed to helping you make informed decisions and ensure tax efficiency in all your property dealings. We believe in personalised service, understanding each client’s unique circumstances, and providing tailored solutions
Our team of experienced tax professionals are dedicated to providing you with expert advice, timely service, and peace of mind. Navigate the tax landscape with confidence.
