Electronics

R&D Tax Credit Examples, Hints & Tips To Maximise Value
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Electronics

Electronics is one of the biggest sectors within the Research and Development incentive. Electronics is a highly versatile sector, so don’t miss your chance and see if you’re eligible to claim!

 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.

4 Project Examples

Below are project examples that would qualify for R&D tax credits in electronics

Counting King Manufacturing Sector Specific R&D

Developing

The development of new hardware or software which aims to achieve new ways to capture and process data.

Advancing

The advancement of image processing or character recognition. For example, creating a software which can easily detect an individual which could then be used for something like security.

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Creating

Creating new programming languages or the creation of new tools, which aim to advance the function of operating systems or existing software.

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Upgrading

Upgrading existing software which can run on new hardware and adapt to the advancements taking place in electronics. For example, a new phone now has X feature, and you create Y application which benefits one another.

Costs Which Don't Qualify

Sometimes the parts you may think qualify, don’t. Here are some examples of what doesn’t qualify in the electronics sector

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Rent

Rent does not qualify for R&D Tax Credits under any circumstance.

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Prototypes

If your company has developed a prototype but you aim to sell it on to a client, you will no longer be eligible to claim R&D expenditure for that prototype.

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Patent Costs

The cost of applying for a patent 'IP intellectual property' is not able to qualify under R&D Tax Credits.

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Purchasing Land

Purchasing land is another cost which will not qualify for the incentive. So for example, if you purchased land to develop the idea the land will not be allowed to be claim for.

How much could you receive in

Electronics

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

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Find out how simple it is to claim R&D Tax Credits in the Electronics sector 

Start Your Claim With Counting King Today!

Don’t hesitate on starting your claim. The government would like to say well done for your innovate hard work so check if you could be entitled to the money they are offering to support your business. With the Counting King simple process, we will go through if you are eligible and if you are we will go through the process and work out the amount you can claim.  It is a process we are experts in and will take the lead on producing for you.

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Quick Q&A

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 system, this could be claimed for the R&D incentive. Anytime you have attempted an advancement in the Electronics sector, whether this worked or not, could still have the potential to be a qualifying activity.

In 2020, there were a staggering 10,045 claims processed by HMRC for the Electronics sector, making it one of the largest sectors in R&D. On average you could receive £77,153 for your successful claim. There has never been a better time to put your claim in for the R&D Tax Relief Incentive.

Where do we start? You can claim for:

  • New software or the development of new hardware
  • New, bespoke electronic development
  • Innovating new applications 
  • 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 a piece of software that does not meet the requirements however being unable to resolve the issue
  • If a software, still has issues after attempting everything in order to resolve, this could be eligible to claim R&D

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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