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R&D Tax Credits are a Government incentive designed to compensate UK companies for investing in R&D to improve the way they do business and overcome problems.

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Questions

We’ve pulled together some basics to help you get started

What are the costs?
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Innovation in Life won’t charge you unless your claim is successful, so there is no risk to you or your company. Our fee is a percentage of the refund you receive and includes the full service provided, there are no hidden extras. We will only charge you for this once you have received your refund.

Do employee expenses such as travel and subsistence costs qualify for R&D?
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Some types of reimbursed expenses can be included in Research and Development (R&D) Tax Credit/Refund claims. A company may reimburse expenses incurred initially by an employee, and such reimbursement may constitute qualifying staffing costs.

Is there a free consultation available?
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We offer a no obligation 15-minute telephone conversation, so we can highlight areas of qualifying activity and the potential value of your claim.

Do R&D Tax Credits/Refunds apply to a sole trader?
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Research and Development (R&D) Tax Credits/Refunds can only be claimed by companies that are liable to pay UK Corporation Tax. Sole traders do not pay UK Corporation Tax and, as a result, they cannot claim R&D Tax Credits/Refunds.

How will I receive my R&D Tax Credits/Refunds?
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You might receive it as a cash payment, a Corporation Tax reduction, they carry forward or back of an enhanced loss or as a blend of these.

I’ve heard the phrase ‘competent professional’. What is this?
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A competent professional is someone in your company who has a successful track record, notable experience and skills or qualifications in your relevant area of science or technology. For software projects, this may be a developer; or, in a manufacturing business, it might be an engineer.

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