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R&D Tax Credits Calculator

Calculate your potential R&D tax credit claim

Enter your details below for an instant result

Which scheme are you eligible for?

What is this? To select ‘SME scheme’ means your company has less than 500 employees and one of the following: Annual turnover not exceeding €100 million or a balance sheet not exceeding €86 million. To select ‘Large Scheme’, also known as the ‘RDEC’ means your company has more than 500 employees and one of the following: Annual turnover exceeding €100 million or a balance sheet exceeding €86 million. Please note that if a company has received a project grant, it can only apply for this under the Large Company Scheme (RDEC).

Is the company profit or loss making?

What is your annual costs (before VAT) on staff, agency workers, software and consumable items relating to R&D activities?

What is this? These include things such as - Staff costs, including gross pay, NI ERS and company pension payments - Agency labour cost (which is restricted to 65% of the invoice value) - Software license costs related to costs expensed to the P&L account and not treated as a fixed asset - Consumable costs related to items that are consumed or transformed during the R&D process such as materials, components, electricity and/or gas etc. For accounting periods beginning on or after 1 April 2023, include cloud computing and storage and data licence costs.

Enter Amount

What is your annual expenditure (before VAT) on unconnected sub-contractors who are involved with R&D activities (£)

What is this? Enter the sub-contracted costs that are directly related to R&D projects. This can include freelance sub-contractors who are actively involved in development activities.

Enter Amount

How to calculate for SMEs

For a profit-making SME, R&D tax credits will reduce your Corporation Tax liability for the year. The minimum rate of relief is 21.5%. 

Relief is given by applying an enhanced deduction to taxable profits of 86% of the eligible spend. The revised taxable profits are then subject to the current rate of Corporation Tax, which is 25%. 

For example, if you spend £200,000 on R&D, you can knock just under £43,000 off your Corporation tax bill for that year. 

R&D tax credits will be given as a cash payment for a loss-making SME. In these circumstances, the rate of relief equates to broadly 18.6%. 

The revised losses are surrendered to HMRC in exchange for this cash payment. The cash payment is calculated at 10% of the losses surrendered (for non-R&D-intensive companies). For example, if you spend £200,000 on R&D, you can receive cash of up to £37,200. 

For more information visit our R&D tax credits page.

How to calculate for RDEC

The Research & Development Expenditure Credit (RDEC) is available to Large Companies who fail to meet the eligibility criteria for the SME scheme as well as SMEs who are prevented from claiming under the SME scheme.

The RDEC is a standalone credit that is considered as a receipt when calculating trading profits. The current rate for the RDEC is 20%. 

The relief is then given by either offsetting the RDEC against your tax bill or, where no tax is payable, a cash payment will be made to you. The benefit works out to be 15% of the R&D-eligible expenditure. 

For example, if you spent £200,000 on R&D during the year, you could receive a £30,000 tax reduction or cash payment.

For more information visit our R&D tax credits page.

Our R&D tax credit calculator

Our R&D tax credits calculator only gives a rough estimate of the potential corporation tax saving or R&D tax credit payable that you may be eligible to claim. It is based upon your R&D costs entered.

However, in-depth research is recommended for companies who want to make sure they identify all qualifying projects and expendables. We have seen countless instances where those not using a specialist service fail to claim their full entitlement - why take that risk when our expert advice can ensure you receive the maximum return?

Contact us today if you'd like more accurate estimations of your costs and projects!

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