R&D Tax Credits enable companies that incur costs in developing new products, processes, software or services to receive a cash payment or corporation tax deduction from HM Revenue & Customs (HMRC). The R&D Tax Credits incentive is designed to encourage innovation and increase spending on R&D activities for companies operating in the UK

Profit making SMEs can claim back 24.7% of eligible development expenditure and loss making SMEs up to 33% by way of a payable tax credit (cash). Large companies can claim back 9.7% through the Research and Development Expenditure Scheme (RDEC). Eligible expenditure includes staff costs, agency workers, contractors, software licenses and consumable items.

By profiting from our specialist knowledge and experience, you can be sure of maximising your R&D tax relief claim. Myriad can handle your R&D tax credit claim from start to finish so that you only need to invest just a few hours into the process. As a rule, Myriad submits R&D tax claims up to three times higher than in-house prepared claims and those filed by generalist accountants.