Welcome to Counting King

What are R and D Tax Credits?

Find out more about this incentive here

R And D Tax Credits - What Are They?

R and D Tax Credits were introduced in 2000 as a government scheme, to reward UK Limited Companies by providing reductions or rebates of Corporation Tax for eligible activities.

Both profit and loss-making R and D projects are eligible for the incentive, so get in touch with us today to not miss out on potential thousands of pounds that could be re-invested into your business!

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How do I apply for R and D Tax Credits?

  • Make sure you qualify first
  • Produce a technical report
  • Provide evidence and calculations to support your claim
  • OR contact tax specialists like ourselves who will take care of everything mentioned above
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What costs qualify for R and D Tax Credits?

  • Salaries and wages
  • Employer’s NI Contributions
  • Employer’s Pension Contributions
  • Materials and wastage consumed during the project
  • Prototypes created
  • Subcontractors’ invoices
  • Software licenses
Play Video

R and D Tax Credits Explained

In this video we give you a quick overview of what R and D Tax Credits are and what activity your company needs to be undertaking to qualify for the incentive.

Why Choose Us

How Do I Work With Counting King?

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Discovery meeting

We will always conduct a discovery meeting to talk you through the incentive, explain our process, and establish whether your company carried out eligible research and development activity.

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Site visit

During the second stage, we will visit your site and conduct informal interviews with key personnel to gain a deeper understand of the business for the technical report. We will also ask for your up-to-date financial data for our in-house analysis.

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Benefit analysis

We will conduct our R and D benefit analysis, where we assess all eligible costs and calculate your maximum benefit.

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Submission

We will submit your claim to HMRC within 2 weeks of securing all completed documents. HMRC will process your payable credit claim and pay out the benefit within 28 days. In the case of HMRC requiring additional information, Counting King will oversee this process.

FAQ

Frequently asked questions.

  1. Creating new products, processes or services.
  2. Developing a prototype.
  3. Developing or improving existing software/prototype and/or service.

R and D Tax Credits stands for Research and Development. It is a government incentive that was introduced in 2000 by the government to encourage companies to invest in R and D, to ensure that the UK stays competitive on the market. 

It allows companies to reduce their tax bill or claim payable cash credits.

  1. By the HMRC definition, R and D activities that qualify must work towards the advancement of science or technology.
  2. This includes, but is not limited to: utilising technology, improving existing products, software advancement/development, integrating existing components in brand new solutions.

This depends on multiple factors. 

If you are claiming under the SME incentive, then you are eligible to claim anywhere between 15% and 33% for your qualifying costs. This is determined by factors such as turnover and staff count.

If you are a large company, then you will qualify under the RDEC branch of the scheme, and you’ll be able to claim 13% of your qualifying expenditure. This benefit will be in the form of tax credits. 

In theory, HMRC will process your R and D Tax Credits claim within 28 working days. However, this can very based on peak periods, workloads and resource availability. 

If you decide to use Counting King for your R&D Tax Credits claim, we will submit all documentation to HMRC within 2 weeks of receiving all relevant information from you. 

You can claim R and D Tax Credits for up to 2 years after the accounting period has ended, for the time it is associated with.

Download Our Infographic

Find out how simple it is to claim 

Counting king claim process outline
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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 King’s simple process you don’t need to worry about your time invested in the claim.

We have you covered!

Start your claim