Trusted R&D tax relief accountants in Milton Keynes, helping innovative companies claim accurately under the merged scheme and ERIS.
R&D Tax Relief
The Merged Scheme and ERIS Explained
For accounting periods beginning on or after 1 April 2024, most companies claim through the merged R&D expenditure credit scheme, which gives a 20 percent above the line credit worth roughly 15 percent of qualifying spend after Corporation Tax. Loss making, research intensive small companies that spend at least 30 percent of total costs on R&D may instead use Enhanced R&D Intensive Support, worth up to around 27 percent. A mandatory Additional Information Form must now accompany every claim, and HMRC is scrutinising submissions far more closely than it once did.
Claims Built With Your Technical Team
Atlas Tax Advisors helps Milton Keynes companies identify genuinely qualifying activity, from software development and engineering to product and process improvement, then build claims that stand up to inspection. We work alongside your technical staff to capture the science and technology narrative properly, cost the eligible staff, subcontractor and consumable expenditure correctly, and prepare the documentation HMRC expects. Our accountants stay current with shifting guidance on subsidised and contracted out work, so your claim reflects the rules as they actually apply today, not as they stood several years ago.
Honest Advice That Protects Your Cash Flow
Directors value that we are honest about what does and does not qualify, because an overstated claim is simply a future enquiry waiting to happen. Many clients return each year once they see how a properly evidenced claim improves cash flow without inviting risk. We file digitally, track every deadline, and explain the figures so you can brief your board with confidence. If your company is solving technical problems and investing to do so, contact Atlas Tax Advisors for a straightforward assessment of whether an R&D claim is worthwhile for you.
FAQs
Q1. What is R&D tax relief? A government incentive that rewards UK companies for investing in projects that seek an advance in science or technology, by reducing Corporation Tax or providing a payable credit. Q2. Which scheme applies to my company? For accounting periods from 1 April 2024, most companies use the merged R&D expenditure credit scheme. Loss making, research intensive small companies may instead qualify for Enhanced R&D Intensive Support. Q3. How much is a claim worth? The merged scheme gives a 20 percent above the line credit, roughly 15 percent of qualifying spend after tax. ERIS can be worth up to around 27 percent for eligible loss making SMEs. Q4. What counts as qualifying R&D? Work that tries to resolve scientific or technological uncertainty, such as developing new products, processes or software, or significantly improving existing ones. Routine work does not qualify. Q5. What costs can I include? Staff costs, a proportion of subcontractor and externally provided worker costs, consumables, software and certain data and cloud costs, subject to the current rules on UK based activity. Q6. Do I need to submit anything extra? Yes. An Additional Information Form is now mandatory for every claim, and many companies must also pre notify HMRC in advance. We handle both correctly. Q7. Can loss making companies still claim? Yes. Loss making companies can often surrender losses for a cash credit, which is especially valuable for early stage businesses investing heavily in development. Q8. How far back can I claim? Generally you can claim for the two most recent accounting periods, so acting promptly avoids losing relief for an earlier year. Q9. Will an R&D claim trigger an HMRC enquiry? HMRC is scrutinising claims closely. A properly evidenced, honest claim with a clear technical narrative is the best protection, which is exactly how we prepare them. Q10. How does Atlas Tax Advisors help? We assess eligibility honestly, work with your technical team, cost the claim correctly, prepare the documentation and file it digitally, so your claim is robust and stress free.