Fuelling Innovation

R&D Tax Relief is designed to drive innovation in the UK by providing valuable funding for companies that spend money on creating new products, techniques and processes.

R&D tax relief can enable your business to claim back a proportion of your R&D expenditure in the form of tax credits. These can:

  • Reduce your profits

  • Reduce your corporation tax bill

  • If you have made losses, allow you to exchange tax credits for cash

Regardless of your industry sector, if you’re spending money on research and development, you could be eligible to claim R&D tax credits.

It costs nothing to find out if you are eligible.

  • True innovation does not necessarily have to give rise to intellectual property but it certainly goes beyond simple problem-solving.

    Many Governments around the world, including our own, have instigated R&D Tax Credit schemes to financially help UK businesses create significant improvements. Tax credits provide the funding a business may need to release its next idea or improve existing products or processes.

    Your business may qualify if it meets the following conditions;

    • You are a limited company in the UK subject to Corporation Tax

    • Your company has spent money on R&D projects

    DJV partners specialise in identifying R&D activity within a company and analysing whether it qualifies when measured by Government standards. We can do this with absolutely no financial risk to you.

  • Whether you are developing products in a lab or refining a manufacturing process you may qualify for R&D tax credits, as long as you are innovating in a way that complies with HMRC’s guidelines.

    HMRC have provided guidance on what types of activities need to be present in the project for it to qualify for the relief. Projects may include the development of a new process, product or service and must involve overcoming technical uncertainty (including failed attempts),

    DJV Partners are qualified and experienced in assessing HMRC-qualifying activities for R&D tax credits and will produce the requisite report justifying the claim for your company.

    DJV operates on a success fee basis which means that any payment due is based on a percentage of funds obtained.

  • It is extremely important that any claims made by your company are limited to specifically allowable expenditure. These include:

    • Direct staff costs – employees who have worked directly on the R&D project

    • Specific Independent contractors and subcontractors costs can, in most cases, be included in a claim

    • Software developed or purchased for (or partially for) the R&D project.

    • Consumables and utilities used in your R&D processes can be included in your claim.

    • Subcontracted R&D. Companies can claim up to 65% of their outsourced R&D costs as part of the SME scheme.

    • Clinical volunteers – Usually only relevant to pharmaceutical firms, the payments made to volunteers in clinical trials are also eligible.

DJV Partners

DJV  Partners are a team of consultants and tax accountants specialising in obtaining R&D tax relief for companies. 

Our tax accountants are members of the Chartered Institute of Taxation and other professional bodies and operate effectively in a highly regulated space. Our consultants assist with capturing the technical scope of your research and have advanced engineering, science and technology degrees as well as the practical experience of working with HMRC. This means that we not only understand the regulatory requirements, but also the practical assessment methodologies that the Revenue uses to assess these claims.

Which industries qualify?

In theory, any company could make a claim as long as the R&D projects meet the criteria outlined in the legislation. We have made successful claims for companies from all major industries including Construction, Manufacturing, Food, Aerospace, Software and Retail.

There have been many occasions where a company with no expectations of an ability to claim has been able to do so as well as companies who fully anticipated the opportunity being unable to do so.

 A DJV Partners analysis will ascertain the likelihood of a successful R&D tax claim for your company and can be carried out in under an hour. 

Keeping the right side of the line.

HMRC have recently spoken out against companies who seek to abuse the R&D tax credit guidelines, submitting claims for activities or expenditure that is non-qualifying.  As a result of this wave of disqualified applications, HMRC have become increasingly vigilant in their testing processes.

DJV Partners’ expertise in assessing valid claims and compiling the necessary justification reports carries, therefore, an even greater significance in ensuring companies only claim for true R&D costs. For companies who are able to justify their R&D claims, billions of pounds have been set aside to encourage innovation in UK industry.

Find out if you qualify.