R&D Claims Surrey

Research & Development tax claims are a UK government incentive which are designed to encourage UK companies to invest in R&D projects. This in turn leads to greater innovation that helps to drive our economy forward. If you are undertaking research & development within your business, you could be eligible for a tax claim.

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Benefits of R&D Tax Claim

Some businesses often miss out on R&D tax claims as many are unsure of if they’re entitled to it or have enough resources to complete the application process. If you’re spending money on developing new products, processes or services then you’ll be eligible to make a claim. Our team of tax planning experts specialise in helping companies of all sizes to make R&D tax claims, meaning you can quickly and easily access the funds you’re entitled to.

R&D Claims can add real value to your business – they’re a valuable source of cash which allows you to continue investing in R&D, hire new staff and keep growing.
Boosting R&D in the UK can lead to innovation and increased productivity, which is great news for the economy and can bring positive change on a global scale.
If your claim is accepted, you may receive either a reduction in your corporation tax bill, a repayment of tax or a tax credit.
If you’re claiming for the first time, you can typically claim R&D tax relief for your last 2 completed accounting periods.

Our approach

Our team of experts, including Chartered Accountants, will gather all the information required for your claim so you don’t have to worry. It’s our job to know your business, so we can define and manage every aspect of your claim, leaving you to get on with what you do best.

We’ll review the information of your activities and compile a detailed report for your claim, which will be presented to HMRC. Once submitted to HMRC, they will review and determine whether you are eligible.

Consultation Call

Get in touch and we’ll book in your free consultation call. We will then be able to find out all about your business and identify any eligible R&D activities and associated costs.

Business Claim

Based on our findings, we’ll request all necessary information to be able to put your claim together. We will prepare a detailed report explaining how your activities and costs have been assessed, and your total R&D tax credit benefit determined.

Payout

We’ll deal with the HMRC submission and if you are eligible you’ll then receive your payout.

Get started today with a free assessment!

Frequently asked questions

Can my business claim R&D tax relief?

If your company is innovating, improving, or developing a process, product, or service, then it’s likely you will qualify for R&D tax credits. To benefit you must be; a limited company in the UK (that is subject to Corporation Tax); have carried out qualifying research and development activities; have spent money on these projects.

R&D claims aren’t just restricted to certain industries, companies in any industry may be eligible. If there was an attempt to advance the scientific or technical knowledge in your field of work – your project should qualify. Even if it wasn’t successful, you can still claim.

If you want to know if your business qualifies, get in touch with one of tax experts for a free consultation.

What costs can you claim for?

Staff costs for any time spent on R&D, including salaries, employer’s NIC, pension contributions and reimbursed expenses.
65% of any Subcontractor and freelancer costs brought in to assist with R&D.
Consumable items and materials including heat, light and power that are used up or transformed by the R&D process.
Some types of software.
Payments to the subjects of any applicable clinical trials.

When accounts are prepared in sterling, convert the turnover and balance sheet totals to euros, using the exchange rate for the balance sheet date.

What R&D incentives are available?

There are two types of schemes available for R&D tax relief. The scheme you use will be dependent on the size of your company and whether the project has been subcontracted to you or not.

The two schemes are:

1) The SME R&D tax credits scheme

For companies with fewer than 500 staff and either not more than €100 million turnover or €86 million gross assets. Most companies, including start-ups, fall into this category.

2) The large company scheme, also known as RDEC (Research and Development Expenditure Credit).

For companies with 500 or more staff and either more than €100 million turnover or €86 million gross assets.

How much is an R&D tax claim worth?

When calculating your R&D claim we first have to look at your R&D spend. Our tax experts identify qualifying expenditure and enhance it by the relevant rate (based on the scheme incentive you qualify for). Depending on the profitability of your business this will result in a claim with either:

a Corporation Tax reduction if you are profit-making.
a cash credit if you are loss-making.
or a combination of the two.

How long will a claim take?

HMRC look to approve any R&D tax claim payments within 28 days of your claim. There is then a potential 10 working days for the payment to be received in your bank.

How easy is it to switch accountants to Aspreys?

We manage the entire handover process and it couldn’t be easier. All you need to do is let your current accountants know you’re moving to Aspreys, giving them permission to release information to us. And then leave it to our client onboarding team to manage.

Don’t worry we’re in a professional industry, your accountants won’t hate you & will still talk to you afterwards. We recommend just thanking them for their efforts to assist with a smooth handover.

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What our clients say

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Aspreys Accountants

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Brad Fincham

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I moved my Business and Personal accounting across to Aspreys from another local company, and cannot fault the service I received from Dan and his team. They were good value, prompt with tax returns and very thorough with managing my XERO and accounts. Would highly recommend them for anyone in the Surrey area – I had used 3 seperate practices prior to Aspreys and they are stand out performers.

Andrew Leuner

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I have been using Aspreys Accountants for my company for over a year now and I cannot recommend them enough. They are professional. efficient and have always been willing to go above and beyond when I need help or guidance. This especially applies to Claire Sandhu, who has been dedicated client support for our account, nothing is ever too much for her!

Caroline Chalkley

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My late husband used Aspreys as his accountant for tax and so I carried on the tradition but I have had to learn how to gather and prepare materials for this. Aspreys have been so helpful and supportive that I am now far more confident in the task and I would recommend their services to anyone who like me is unused to making tax returns. I particularly commend Claure Sindu who is never anything but helpful and encouraging when I encounter problems submitting material. It is a great comfort to me to have Aspreys expertise take care of my tax matters. C. Chalkley

Mandy Hunt

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What can I say about Aspreys accountants, Dan and Claire…without them I have no idea what would have done to figure out the Capital Gains Tax. As a non resident I hadn’t a clue where to start. But left in the hands of both Dan and Claire I didn’t have to get too stressed, they have handled everything and for that I am truly thankful. I would like to say a special thank you to Claire because each I emailed a question she replied no matter how trivial it might have seemed to her,

Charlie Aldous

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Always quick to respond with advice, queries and service. They have taken very special care of me during my time with them. Whether that’s 1 to 1 calls to make sure I understand everything about my company or regular updates about my accounts.11/10 would recommend to anyone with a LTD company.

Mandy Curtis

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This company is amazing. Highly recommend. Not only are they great at what they do, they go above and beyond on a customer service level.

Richard Barwick

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As a small, growing business in the building retrofit and decarbonisation sector, I totally recommend Aspreys.

noah morris

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I have been using Aspreys since setting up my business last year and they have been great! The team are really friendly, always so helpful and quick to answer questions and I would recommend them to anyone looking.

All Things Iyla

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We have used asprey’s for a number of years & had dealings with Dan, Duncan, Rhiannon, Claire throughout our time & all I can say about them all is they are professional & very friendly, I would recommend them to anybody. They do everything that’s asked & more. They really are a great company & make your life easy regarding all the stresses that come with accounting.

Elaine Eyers

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I am very impressed with this company. Good communicationand no hassle. excellent.I have dealt with Claire Sandhu and it was a pleasure.

Tor Wright

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We are a new, fast growing business and since the first day we began using Asprey’s they have provided us with 5* support and service. They go over and above to help you and ensure that you never miss time sensitive deadlines. Asprey’s enabled us to spend our time on more valuable areas of our business without the worry of neglecting the accounts side. They spent one on one time with us to explain in detail how everything works and how we would work together. Asprey’s has taken a very stressful part of the business and made it completely streamlined. The peace of mind we have is totally priceless. We can’t thank them enough!

Paul Brown

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Having used Duncan Finn from his early days as a sole accountant, I have been using Aspreys for a few years. I have valued his advice and the service that Aspreys offer. I particularly want to give a shout out to Claire Sandhu who is always bright, cheerful and friendly. She is also very professional in her approach and her customer service is exemplary.

F C

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When you start a business, accounting is never really a priority. As you are probably focusing and getting the business of the ground. Overlooking your accountant/accounting could be a mistake easily avoidable though. After a few chaotic years…to say the least. I made contact with a few different accounting firms and I am glad I picked Aspreys. Daniel was my first point contact, he was calm and reassuring. Well over 1 year down the line I do not regret. The whole team is there to take the hassle away from me. I only see the important information and they are always ahead of the game. I work closely with Rhiannon and with Claire they are providing an outstanding service. I know I am in safe hands this mean I can focus on the business…

Chr. Gyldenløve

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Aspreys has been helping us for more than a year now keeping up with tax and vat filings. They are always extremely helpful and go the extra mile to answer any questions we have. They seamlessly integrate Xero and Hubdoc making it very easy for us to track the accounts. Would recommend them to both start-ups and larger companies.

Stacey Milburn

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Have had a great experience with Aspreys so far. They’re so lovely to deal with and have really looked after us ensuring that everything was completely smoothly! Thank you Aspreys.

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