If your company is in the manufacturing or engineering industry and you've recently introduced new or improved products or manufacturing processes then there is a strong chance that you could benefit from an R&D Tax Credit claim.
Common examples of product and process development projects that may qualify for R&D tax relief include:
In terms of qualifying tasks, the following activities would be considered eligible for R&D tax credits:
In addition, certain indirect support activities may qualify for R&D tax relief, such as:
You can claim relief on 25% of qualifying expenses. The main areas of costs that can be claimed are:
It is not uncommon for an R&D team to consist of many individuals from different parts of the business. Your R&D project team may include the R&D Manager, a Lead Developer, Engineers, Project Co-ordinators, Quality Control and Testing specialists, and Cost Accountants, as well as members of the senior management team.
By profiting from our specialist knowledge and experience, you can be sure of maximising your R&D tax relief claim. As a rule, Myriad Associates submit R&D tax relief claims that are up to three times higher than in-house prepared claims or those filed by generalist accountants.
We identify all your R&D activities
We capture all your R&D expenditure
We write your R&D technical reports
We submit your R&D Tax Relief claim
We work with Revenue to agree your R&D claim
With just two to three hours of your time we'll take care of your claim from start to finish
You can download our information sheet on R&D Tax Relief for Manufacturing & Engineering Companies.
This R&D tax credits calculator estimates the amount of corporation tax savings you may be entitled to by making a claim for R&D tax relief.