randd uk is one of the leading firms helping company’s claim under the R&D Tax Credit scheme. Not sure what R&D Tax Credits are? Keep reading.
Which one are you?
There are two very straightforward R&D Tax Credit schemes which HMRC operate: the Small and Medium-sized Enterprises and the Large Company R&D Tax Relief Schemes. Companies can claim relief on their research and development activity through either scheme, depending on their size, turnover and balance sheet.
Small and Medium Enterprises (SME)
The Small and Medium Enterprises R&D Tax Relief Scheme
A company is considered an SME for R&D Tax Credit purposes if they have fewer than 500 employees and either an annual turnover not exceeding £84 million, or a balance sheet not exceeding £72 million.
The Large Companies R&D Tax Relief Scheme
Companies are considered Large Companies if they exceed the SME threshold. However, some parts of a Large Company can be considered an SME for R&D tax relief purposes, so it’s best to speak to us about this so we can clarify your company’s position.
Get in touch!
We’d love to have a chat with you and see if your company qualifies. Fill out this form, and we’ll be in touch.