RESEARCH & DEVELOPMENT
Research and Development (R&D) tax reliefs supports companies that work on innovative projects in science and technology.
INNOVATION AND R&d TAX RELIEFS
R&D Tax Reliefs are designed to boost innovation across industries by supporting businesses in overcoming a challenge with their product, process, or service.
If you’re spending money developing or significantly improving a product, process, or service – and advancing knowledge – you may qualify for R&D tax credits.
Many business owners still believe their company won’t be eligible, but irrespective of the sector you operate in, you could still have qualifying costs. We’ve seen a huge increase in companies benefiting from R&D Tax Reliefs across sectors such as construction & architecture, food & drink, technology, logistics, engineering and manufacturing to name just a few.
Along with research and development, tax reliefs can also be claimed on many creative outputs and patented innovations, including video game development and the production of film, TV, and theatre.
Our Innovation Tax Reliefs team houses a wealth of experience gained both in practice and in senior positions within HMRC, providing a great combination of tax and industry based experience. This allows us to critically analyse the challenges you’ve overcome and look at the costs incurred to access your eligibility to claim, gathering the evidence needed to submit a robust report to HMRC.
KNOW HOW ALLOWANCES
Tax relief in the form of capital allowances may be available for businesses who have capital expenditure in relation to the acquisition of Know-How.
PATENT BOX
Designed for companies holding patents on their intellectual property, the Patent Box facilitates a reduced rate of Corporation Tax for profits stemming from patented inventions.
PATENT ALLOWANCES
Patent allowances are capital allowances given on capital expenditure incurred on the purchase of patent rights.
FILM TAX RELIEF
Designed for qualifying film production companies meeting cultural test criteria as official co-productions, this relief focuses on film production activity rather than creative processes.
ANIMATION TAX RELIEF
Beneficial for UK animation production entities, this relief offers a tax rebate for expenditures in pre-production, principal photography, and post-production of animation projects.
CHILDREN’S TV TAX RELIEF
Aimed at Television Production Companies, this incentive offers rebates for pre-production, principal photography, and post-production expenses related to children’s TV content.
THEATRE TAX RELIEF
Theatre Tax Relief allows Theatre Production Companies (TPCs) to reclaim a portion of expenditures from producing theatrical productions.
VIDEO GAMES TAX RELIEF
For UK game developers, Video Games Tax Relief (VGTR) offers rebates for expenditures during development, promoting innovation and competitiveness within the gaming industry.
HIGH END TV
Television Tax Relief offers rebates for pre-production, principal photography, and post-production expenditures.
I hadn't realised we qualified for R&D tax relief until TC Group convinced us to go down that road - that's been worth £150k to the business.
Working with the Innovation Tax Reliefs team at TC Group has been a pleasure. The successful claims we’ve made have helped maximise the tax benefit to our business, enabling us to invest in our social value projects and further reinvest in our company’s infrastructure and talent.
Being a manufacturing company who’s heavily involved in the product designs of customers, we wanted to explore the opportunities surrounding R&D tax credits. We spoke with the team at TC Group who were very supportive in this, offering superb advice that led to the recovery of significant R&D monies.
GUIDELINES ON THE MEANING OF R&D FOR TAX PURPOSES
With changes to the R&D Tax Relief scheme, learn more about your eligibility and opportunity to claim.
Included you’ll find guidelines from The Department for Science, Innovation & Technology, which identifies and defines the various terminology that’s used in the description of qualifying research & development activities.
