RDS - Sectors - R&D Tax Credits – Engineering
There is a lot going on in the engineering industry and big changes are on the horizon, which is why R&D tax relief is so important. Many businesses in the engineering sector can take advantage of R&D tax credits and the process is simple, especially when you have RDS on side.
No upfront fee
We only bill when your claim is successful
£55m+
Unlocked for our clients
£7.6bn
Claimed by UK businesses in the 21/22 financial year
Back in 2000, HMRC introduced the Research and Development Tax Relief Scheme, which has gone on to help a large number of engineering businesses.
R&D in engineering is there to support eligible businesses that are working on innovative projects, especially those related to science and technology, by providing refunds and credit against corporation tax. By doing so, businesses are able to focus on revolutionising the industry.
At RDS, our expert team is on hand to help you to establish whether your business is eligible for R&D in engineering. If you are, we will work on a ‘No Win No Fee’ basis to guide you through the qualification process, resulting in a successful claim. We know how complex R&D tax claims can be – especially if you don’t have a lot of experience with how the process works for engineering – and so we dedicate time, effort and resources to making things as simple as possible.
Use our handy R&D tax relief calculator to find out how much you could be claiming back.
Please find below a few examples of activities that qualify as R&D expenditure in engineering.
You can claim for the following:
an element of staff salary costs as well as employer’s NIC & employer pensions costs relating to employees’ time whilst actively engaged in research and development projects.
carried out by third parties on your behalf relating to the R&D.
used directly in R&D including prototyping and concept development costs.
where the software is required to enable the process of R&D.
related in specific proportions to the R&D projects.
where these costs occur in order to enable your R&D to occur.
We have helped businesses across a range of sectors claim R&D tax credits for their innovative work.
MANUFACTURING
CONSTRUCTION
ENGINEERING
TECHNOLOGY & COMMUNICATIONS
AGRICULTURE
FOOD & DRINK
ARCHITECTURE
SCIENCE & MEDICINE
SOFTWARE & IT
AEROSPACE
DEFENCE & MILITARY
PHARMACEUTICAL
An initial phone call or face-to-face meeting is typically the first step, so that one of our Business Development Managers (BDM’s) can discuss potentially qualifying R&D projects with you & explain the activities that can be included within an R&D claim.
Following a successful eligibility check, our team will officially engage with you & request the straightforward financial information required from you and your accountant in order to analyse the R&D costs. A report call / meeting will also be carried out so that a justification report can be created.
Once the claim financials and report have been completed, our team will liaise with you to discuss the final claim and get feedback from you & a confirmation that all eligible activity has been included. Following the review and claim sign off, we will submit the information to your accountant.
One of the benefits of our approach is that we don’t tread on the toes of your accountant by taking over as your ‘agent’ with HMRC. We pass over the completed claim info to your accountant so that they can alter your corporation tax return (CT600) to include the figures, and also attach the report for HMRC.
With three UK office locations we are always on hand for a call or to meet in person. Start your journey with RDS today.
