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News – 10.04.24
Form PF: Are you up to speed with the latest developments?
Through this insight we will bring to your attention the main changes in a bitesize manner so that you can stay abreast of the requirements as they may apply to your firm. … Read more
Insight
Tax relief on heritage assets: Am I eligible?
For assets considered to be of national heritage, relief from Capital Gains Tax and Inheritance Tax is available. … Read more
Upcoming event – 29.04.24
Governance code updates and advice for Further Education colleges from Buzzacott and the ESFA
Join Buzzacott and the ESFA for a governance update for further education colleges … Read more
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Your company has fewer than 500 employees and not more than either €100 million turnover or €86 million balance-sheet.
Up to £26,970
Claimants spending £100,000 on R&D expenditure could receive up to £26,970. However, this benefit will vary based on your financial position. If you made a profit, you could receive £21,500 in the form of a tax reduction. However, if your company is loss-making, the benefit could vary from £18,600 up to £26,970, based on your company’s R&D intensity.
Up to £134,850
Claimants spending £500,000 on R&D expenditure could receive up to £134,850. However, this benefit will vary based on your financial position. If you made a profit, you could earn £107,500 in the form of a tax reduction. However, if your company is loss-making, the benefit could vary from £93,000 up to £134,850, based on your company’s R&D intensity.
Up to £269,700
Claimants spending £1,000,000 on R&D expenditure could receive up to £269,700. However, this benefit will vary based on your financial position. If you made a profit, you could receive £215,000 in the form of a tax reduction. However, if your company is loss-making, the benefit could vary from £186,000 up to £269,700, based on your company’s R&D intensity.
Your company has fewer than 500 employees and not more than either €100 million turnover or €86 million balance-sheet and has either received a subsidy or worked on behalf of another company.
Up to £15,00 benefit
Claimants spending £100,000 on R&D expenditure could receive up to £15,000 to either discharge corporate tax liabilities or obtain a cash credit. However, this will depend on the company’s tax liabilities.
Up to £75,000 benefit
Claimants spending £500,000 on R&D expenditure could receive up to £75,000 to either discharge corporate tax liabilities or obtain a cash credit. However, this will depend on the company’s tax liabilities.
Up to £150,000 benefit
Claimants spending £1,000,000 on R&D expenditure could receive up to £150,000 to either discharge corporate tax liabilities or obtain a cash credit. However, this will depend on the company’s tax liabilities.
Your company have more than 500 employees and more than either €100 million turnover or €86 million balance-sheet.
Up to £15,00 benefit
Claimants spending £100,000 on R&D expenditure could receive up to £15,000 to either discharge corporate tax liabilities or obtain a cash credit. However, this will depend on the company’s tax liabilities.
Up to £75,000 benefit
Claimants spending £500,000 on R&D expenditure could receive up to £75,000 to either discharge corporate tax liabilities or obtain a cash credit. However, this will depend on the company’s tax liabilities.
Up to £150,000 benefit
Claimants spending £1,000,000 on R&D expenditure could receive up to £150,000 to either discharge corporate tax liabilities or obtain a cash credit. However, this will depend on the company’s tax liabilities.
Claimants will have to be careful about how to calculate this benefit as it is affected by individual tax liability and R&D intensity. Our R&D calculator is not a substitute for professional advice, so get in touch with our R&D experts to receive an accurate estimate.
Our R&D tax credit specialists can help your business accurately calculate and claim R&D tax relief. We want to help you understand your eligible activities without holding you up, so you know how to build a robust R&D claim. We're here to fully support you with preparing and claiming R&D tax credits.
If you would like to speak to one of our R&D experts to receive a more accurate estimate of your benefit, please get in touch via the form below.
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