Research and Development (R&D) Relief is a Corporation Tax relief that may reduce your company’s tax bill by more than your actual expenditure on allowable R&D costs. An enhancement of up to 130% over and above the amount spent is available.
The government has extended the Research and Development tax relief incentives over recent years in the hope that it will put the UK in a strong position to benefit from hi-tech industries.
The tax relief is encouraging the British spirit of innovation as figures have shown an increase of a third in the number of companies taking up tax relief on R&D.
Tax credits on R&D were introduced more than a decade ago to encourage research and innovation in British industry and keep us ahead of the world.
The continued strong uptake of the R&D tax credit is good news, as it supports companies seeking to bring new products and services to market which can only be positive for our economy.
Perceptions have been changing and many SME’s are realising that R&D tax relief is not just for the manufacturing or technical sectors. The tax relief can apply to many other sectors that are developing innovative processes or products or resolving technological difficulties or uncertainties.
Talk to us today and see how the relief could apply to the work your business is doing.
"The Walker Group has worked with Dutton Moore for more than 30 years. They have acted on behalf of all the Group’s companies and the family and are trusted and highly experienced business accountants, auditors and business advisers."
Lee Davies, A.C.A, Financial Director, Walker Group
"We have worked with Dutton Moore for many years and have always received a first-rate service. The team at Dutton Moore provide us with invaluable accountancy, strategic planning and business advice as we continue to be a growing business in this region."
Simon Gibson, Director at Simon Gibson Transport Ltd, Goole, East Yorkshire
Grain merchants and farmers, Burstwick, East Yorkshire:
Jeremy Saunt, Director at Johnson and Saunt
"We have been clients of Dutton Moore for more than 20 years – they carry out all our accountancy work and business advice, their service and attention to detail is outstanding."
"Dutton Moore are an excellent provider of financial services for significant Hull based businesses such as Smales. We have worked with the firm for many decades and are guaranteed sound financial and business advice, alongside the general accountancy services that they provide. What is key for my Company is the direct involvement of the partners with the Smales management."
Robin Orr B.Com; C.A; C.T.A, Financial Director, F.Smales & Son (F.M.) Ltd, Hull
"Having worked with Dutton Moore for many years now, we have always found the service extremely professional, prompt and courteous. As a growing business over the years their advice has been exemplary and without their valuable assistance in accounting and strategic planning we would have found the many transitions of growth a lot more challenging."
Richard Spencer, Commercial Director, Spencer Signs Ltd, Hull
A round-up of todays’ first Labour Budget from Chancellor Rachel Reeves, from Tax Partner Colin Hamilton... Today’s Budget sees one of the largest increases in tax and spending in recent history. It represents the Labour governments vision of Big Taxes / Big Spending / Big Borrowing in response to a perceived £22B ‘financial black hole’ and the need to re...
Dutton Moore Chartered Accountants and Business Advisers were delighted to sponsor the kit for the First VII netball team of Hymers College as they successfully competed in a regional school’s netball tournament. Supporting local teams, especially sporting teams, is important to all at Dutton Moore – and as such the accountancy practice were pleased to...
The Chancellor of the Exchequer's budget is set against a very challenging economic backdrop with a looming general election. The £400 billion bill for Covid and £100 billion bill for employment and energy support packages plus other financial headwinds (including much higher interest rates etc flowing from the discredited strategies pursued by the previous Prime Minist...