Welcome to Counting King
We specialise in R&D Tax Credits
Find out how much you could receive.
Do you have more than 500 employees and turnover exceeding €100,000,000?
How much have you spent on R&D?
What was your profit the same year?
Our upfront fee
Always £0
You could receive a tax credit of
£1,885
Please note: This calculator is intended as a rough guide.
Eligible R&D Tax Credits Sectors
Software Development
There are lots of projects within the software and technology industry who qualify for R&D Tax Credits.
Average Claim Value
£63,296
Agriculture
Advances in agriculture have lead to new types of robotics, eco friendly crops and sustainable alternatives.
Average Claim Value
£45,045
Professional, Scientific & Technical
Science never stops looking for new or better treatments, vaccines or cures!
Average Claim Value
£77,153
Manufacturing & Engineering
The backbone of UK innovation. Engineering new solutions or creating better processes underpins future growth.
Average Claim Value
£50,021
Construction
Merging old practices with new technologies can be tricky. In many circumstances bespoke solutions are created.
Average Claim Value
£57,283
Transport & Storage
Many people would be surprised to learn how innovative the logistics industry is and what lengths they will go to be increase efficiency.
Average Claim Value
£48,193
Process of claiming R&D Tax Credits
Step 1: Discovery Meeting
This meeting can be conducted in-person or over the phone. During this meeting, we will talk you through the incentive and establish whether the work your company has carried out qualifies under the R&D Tax incentive. We will also outline our work processes and what you should expect.
Step 2: Technical Meeting and Report Drafting
We visit your site and interview key personnel to get a full understanding of your businesses operations and gather the technical details of the development work undertaken in the period(s). We will also go through the financial aspect of the claim with your company’s finance function to get up-to-date financial data for analysis.
Step 3: R&D Benefit Analysis
We analyse all eligible costs and calculate the maximum benefit available based on accurate and up to date data. From here we can explain how much you can expect and in what form you can expect the benefit based on your company’s tax position.
Step 4: Review & Submission
Following an internal review of the compiled claim, we aim to submit the completed documents to HMRC within 2 weeks of receiving all the required information. HMRC aim to process payable credit claims within 28 days and pay out the benefit. In the event that HMRC require additional information relating the claim before the processing can be completed, we will oversee the process and work with you to answer any additional questions. We also work with Ex-HMRC consultants and IP Lawyers to streamline this process and minimise the impact on your business.
Step 5: HMRC Process your R&D Tax Credit
HMRC will process a reduction in liability instantly (once submitted). Payable credits are issued typically within 4 weeks either by cheque or bank transfer.
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We've got your R&D Tax Credits Covered!
What are the key benefits of R&D Tax Credits?
R&D Tax Credits can be a valuable form of funding for businesses of all sizes undertaking eligible activities as a one-off or as part of their day-to-day workflow processes.
Cash injection
R&D Tax Credits can provide a vital cash injection to UK Limited Companies of all sizes, to not only continue their eligible activities but to enhance their efforts and enable organic company growth.
Increase Competition
The UK is known as a leading country in innovation. This incentive encourages UK Limited Companies of all sizes to become more competitive on the world market. Following the decision to leave the EU in recent years, it has become more important than ever for the UK to remain at the forefront of technological and scientific advancements.
Boost Innovation
R&D Tax Credits are designed to encourage and promote innovation. Companies who may not have thought about R&D in the past can now receive the added benefit of tax credits. Companies who regularly carry out R&D as part of day-to-day activities can continue to and enhance their qualifying activities with this added benefit.
Economic Growth
For every £1 that is spent on R&D related projects, generates a net return of £2.65 for the UK economy. This type of stimulus generates greater benefits for HMRC in terms of economic growth.
Is your business eligible for R&D Tax Credits?
If your company undertakes challenging projects that encounter challenges and uncertainties that need to be overcome using technological or scientific principles or solutions, you will likely qualify under the R&D Tax Credit Incentive.
Examples of qualifying R&D Tax Credits projects:
Developing an enhanced version of a physical product that is currently on the market.
Designing and coding a novel application that alerts you to dietary requirement friendly restaurants nearby to your current location.
Using materials in a new way to achieve greater efficiency or functionality.
Designing and manufacturing a product to overcoming issues that are presented within a specific industry (gap in the market).
Developing completely new technical features, functions which are currently unavailable.
Development of unique products to deliver state-of-the-art facilities.
As per HMRC’s guidelines, a project does not have to be successfully completed for it to be classed as qualifying under the R&D Tax Incentive. Failed projects, whereby the technical uncertainties could not be overcome can still qualify under the incentive as long as the work carried out falls within the criteria.
Which area of the R&D Tax Credits incentive is right for me and my business?
There are two sections to the R&D Tax Credit incentive from HMRC which your business will fall into:
R&D Tax Credits
SME Scheme
Based on £100k of R&D Costs you could potentially receive:
£24,700
(If Profitable)
£33,350
(If Loss Making)
R&D Tax Credits
RDEC Scheme
Based on £100k of R&D Costs you could potentially receive:
£10,530
(Processed as an Expenditure Credit)
Still unsure which R&D Tax Credits incentive is right for you?
Our R&D Tax Credits Claim Results
We have already helped over a hundred companies benefit from the R&D Tax Incentive, accounting for over £2million in benefit to our clients.
Trusted and respected advisors on hand at every step of the application to ensure you are always 100% comfortable.
We hire Ex-HMRC Consultants & IP / Patent Lawyers to ensure our work is of the highest standards
We partner with respected organisations such as the Growth Hub & Multiple Local Authorities as they trust the standard we set.
Research and development tax credits is an incentive where UK Limited companies can receive a reduction or rebate on their corporation tax for monies spent on eligible R&D activities.
The research and development (R&D) tax credits incentive was established by the Government in 2000, supporting businesses of all different sizes to grow and helping the UK economy to grow through innovation.
First you need to ensure you qualify for the incentive. Then you need to produce the technical reports, evidence and calculations to support your claim. This can be quite intensive and if you make any mistakes you may run the risk of HMRC asking for additional information.
Alternatively, you can contact a specialist tax advisory firm such as ourselves who not only produce all of the above, will walk you through the process and safe guard you and your company to make sure you stay compliant.
HMRC aims to deal with 95% of payable tax credit claims
within 28 days of receiving the claim. There are certain times of year or situations that increase this time such as popular years like March & December or when HMRC is under increased workload pressure such as furlough etc.
UK Innovation Strategy
UK Innovation Strategy A recent government paper was published on 22nd July 2021 – titled ‘UK Innovation Strategy: leading the future by creating it’
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