The government’s scheme to give tax relief on the cost of research and development is open to all UK based companies.
DSM have a free R&D tax credit calculator so that you can get a personalised estimation of how much your claim could be worth to your business.
What information do I need to use the calculator?
You will need to input some basic financial information about your R&D costs so that the calculator can work out your potential claim. This includes:
- Are you an SME (up to 499 employees) or a Large Company (500+ employees)?
- Approximate costs of the different elements of your R&D project. Including: staff costs, subcontractors, materials, clinical trial volunteers, software and utilities. It is important to mention that this is not your total expenditure on these items, but the proportion of the cost that is spent on your R&D project.
What does the free R&D tax credit calculator tell me?
The free R&D tax credit calculator will give you a figure, based entirely on your own information for:
- Total R&D revenue enhanced claim
- Further Corporation Tax deduction as a result of your claim
- Total Corporation Tax deduction on expenses
- Effective Corporation Tax rate on revenue expenses
- Total Value of your claim (at 20% CT rate)
Seeing the scheme applied to your data, in black and white, is actually very powerful. It stops being a purely theoretical exercise and you can start to imagine what you could do with your R&D Tax Credit claim money.
Isn’t it more complicated than that?
Getting information from our free R&D Tax Credit calculator is the springboard for your decision to embark on the claims process. Yes it is more complicated than just entering simple financials, but that’s what we’re here for. We simplify the R&D process for you. Without fail, our clients feel that their substantial R&D tax relief amount more than justifies their time and effort.
Our jargon free Research and development FAQs and Guides help you understand more about each facet of the R&D Tax Credit claims process, including: identifying which projects are eligible, finding all your qualifying costs and the evidence you need to support your claim. You and your accountant don’t have to plough through it all yourselves. Just give us a call and we’ll dive in to get you the best possible R&D Tax Credit amount. Now, go and give the free calculator a try, you’ll be surprised by how much could be coming your way.