Pharmaceuticals

R&D Tax Credit Examples, Hints & Tips To Maximise Value
HMRC pharmaceuticals stats
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Claims Processed
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Pharmaceuticals

Top 10 R&D Sector

As you can probably imagine, pharmaceuticals is one of largest sectors with new products being launched daily. Some areas within pharmaceuticals include: chemistry, toxicology, physiology, pharmacology, medicine and biology. Does your company fall within one of those sectors? Keep scrolling to find out what you can claim for.

We know that there are a lot of nuances regarding this incentive but that’s why specialists like ourselves are on the market. R&D is everywhere without you even necessarily realising this. We can conduct a casual meeting with yourself to understand your business, how you operate and what costs you’ve incurred that could qualify. 

 

How much could you receive in

Pharmaceutical R&D Tax Credits?

Use our free calculator today and you could have a significant benefit amount within 28 days!

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Case Study

Each case study is different and unique in many ways. Read on to find out more about a pharmaceuticals company that we've worked with!

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4 Project Examples

Find out what you can claim for in pharmaceuticals

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New drugs

If you have developed a brand new to the market drug, you could claim for some of the costs incurred!

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Adaptations

Innovation is not just about developing something brand new; adaptations and modifications to existing drugs that offer an advancement also qualify.

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Clinical testing development

If you have developed new clinical testing to enhance your own safety-monitoring that is bespoke, you could claim for your research.

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Discovery

Discovered a new enzyme? Receptor that can can effect how a certain type of disease is being treated? Get in touch to discuss your R&D claim.

FAQ

Frequently asked questions.

In short, yes. The best thing to do is to figure out how much R&D you are doing, you should then be able to assign a proportion of your light, heat, water and power that was used for your R&D and amend your claim accordingly. 

One of the biggest portions of claims for the Research and Development tax incentive is circled around staff costs. Whether that might be people directly involved within the R&D or others who might be indirectly involved.

No, you do not need to create a new product to qualify for R&D Tax Credits. For example, if you tweaked a current medicine which had an advancement, this could be claimed for the R&D incentive. Anytime you have attempted an advancement in Accommodation and Food sector, whether this worked or not, could still have the potential to be a qualifying activity.

In 2020, there were 10,045 claims processed by HMRC for the Professional, Scientific and Technical sector, but on average you could receive £77,153 for your successful claim based on current statistics.

Where do we start? You can claim for:

  • New drug creation and/or amendment
  • New, bespoke equipment development
  • Innovating new packaging options
  • A portion of your utilities bill
  • Subcontractors (up to 65%)

Yes! You are able to claim for unsuccessful projects as this falls under the ‘uncertainty’ you faced during the Research and Development you undertook.

Examples of uncertainty for R&D are;

  • Attempting to fix an issue with machinery that does not meet your manufacturing requirements however facing problems.
  • Managing environmental factors, decreasing your carbon footprint during your experimental process 
  • Adaptations and amendments in drugs based on new research however they didn’t turn out as planned and will need revisiting

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Find out how simple it is to claim your Software and Technology R&D Tax Credits.

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Insight

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Costs which don't qualify in pharmaceuticals

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Testing

If you're a company that focuses on the testing of products for compliance reasons, there is no R&D for you to claim. You need to be actually developing and enhancing the industry to qualify under the incentive.

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Verification costs

The costs associated with the verification process of your claim do not qualify under the incentive. This is due to the fact that this cost would be incurred past the development process.

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IP rights

If the IP rights to the product that you are working on do not belong to you, then the costs incurred for R&D would qualify for that company and not you.

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Activities outside of R&D

You cannot elevate your claim by adding additional costs that were not part of your R&D. This could trigger a HMRC enquiry into your claim.

Find more about R&D in your sector!

Depending on your company size, you may qualify under the RDEC scheme (Research and Development Expenditure Credit) or under SME incentive (Small Medium Enterprises).

Find out more about your eligibility today.

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Start your claim with Counting King today!

Don’t hesitate on starting your claim, you could be entitled to money you didn’t realise you could have. With Counting Kings simple process you don’t need to worry about your time invested in the claim.

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