R&D Tax Relief and Patent Box
At SMH Chartered Accountants, we provide expert guidance to businesses in claiming R&D Tax Relief and Patent Box benefits, helping our clients achieve significant tax savings.
What is R&D Tax Relief and Patent Box
Research and development (R&D) is essential for businesses that aim to remain competitive in today’s fast-paced world. However, the costs of R&D activities can be significant, making it difficult for some businesses to invest in the development of new products, processes, and services. Fortunately, the UK government offers R&D tax incentives to businesses that engage in qualifying R&D activities.
We understand that claiming R&D Tax Relief and Patent Box benefits can be a complex and time-consuming process, which is why we offer expert guidance to businesses of all sizes. We work with our clients to help them identify and claim the maximum amount of R&D tax relief they are entitled to, while also advising on Patent Box benefits.
Our R&D Tax Relief services include:
- Identifying qualifying R&D activities – Our team will work with you to identify the activities that qualify for R&D tax relief. We will help you understand the criteria used by HMRC to determine eligibility and guide you through the process of preparing a robust R&D tax relief claim.
- Preparing and submitting R&D tax relief claims – Our team has significant experience in preparing and submitting R&D tax relief claims, ensuring that all relevant information is included and that the claim is submitted on time.
- Maximizing R&D tax relief benefits – We will work with you to maximize your R&D tax relief benefits. This includes ensuring that all qualifying costs are included in the claim, such as staff costs, consumables, and subcontractor costs.
Our Patent Box services include:
- Identifying qualifying intellectual property (IP) – Our team will help you identify the IP that qualifies for Patent Box benefits. This includes patents and other IP that has been developed in-house.
- Calculating Patent Box benefits – We will work with you to calculate the potential tax savings from Patent Box benefits. This involves identifying the profits attributable to the qualifying IP and applying the reduced tax rate of 10%.
- Claiming Patent Box benefits – Our team will assist you in preparing and submitting your Patent Box claim to HMRC, ensuring that all relevant information is included and that the claim is submitted on time.
By using SMH’s R&D Tax Relief and Patent Box services, you can benefit from our extensive knowledge and expertise in this complex area of tax law. Our team will work closely with you to understand your business and its R&D activities, helping you to maximize your tax savings and achieve your growth ambitions.
Contact the SMH Chartered Accountants team on info@smh.group or 0114 266 4432 to learn more and find out how we can help you.
10% Tax on ‘Patent Box Profits’
At SMH Chartered Accountants ,we understand the importance of innovation and investment in research and development (R&D) for businesses looking to stay ahead of the competition. We offer R&D Tax Relief and Patent Box services to help companies benefit from tax incentives designed to encourage innovation and growth.
46% Tax relief for R&D expenditure
At SMH Chartered Accountants, we understand that Research and Development (R&D) is a vital part of driving innovation and growth in businesses. That's why we offer our clients R&D tax relief services, which can provide significant tax savings for companies investing in R&D activities.
