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The Research and Development Expenditure Credit (RDEC), previously known as the Above The Line (ATL) R&D Tax Credit, was introduced from 1st April 2013 for companies as an alternative to the existing Large Company Scheme for Research and Development (R&D) Tax Relief.
The RDEC is paid to companies by way of Taxable Credit as a percentage of qualifying R&D expenditure. This change means that loss-making large companies, could now benefit from making an R&D Tax Relief Claim.
Since 1st April 2013, companies have been able to claim RDEC at the headline rate of 10% of their qualifying R&D expenditure, and this rate was increased to 11% from 1st April 2015.
The current rate means that companies can now receive a credit of up to 8.8% of their R&D expenditure. This is because RDEC credits are included ‘above the line’ in a company’s accounts and are therefore subject to the prevailing rate of Corporation Tax.
All companies in all industries are eligible to make a claim for R&D Tax Relief if they are liable for Corporation Tax and meet the qualifying criteria for their R&D projects. Further information can be found on the R&D Tax Credits section of our website and also in our recent article What kind of companies can apply for R&D Tax Relief?
Both RDEC and the Large Company Scheme are available to companies who do not meet the criteria for claiming R&D Tax Relief under the SME Scheme. An SME is defined as a company with fewer than 500 employees and an annual turnover not exceeding €100 million, although group structures and other scenarios may enable SME’s to claim R&D Tax Relief through RDEC and the Large
Because of our specialist knowledge and proven experience:
By profiting from our specialist knowledge and experience, you can be sure of maximising your RDEC Claim. As a rule, Myriad submits RDEC claims up to three times higher in value than in-house prepared claims and claims 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 HMRC 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