RESEARCH & DEVELOPMENT TAX CREDITS

We’re here to help you get the most out of the Government’s Research & Development (R&D) tax relief scheme – the UK’s most generous Corporation Tax relief.

R&D schemes and tax incentives play a significant role in the growth of enterprising startups and SMEs. In fact, there are various tax reliefs available to you that reduce your corporate tax liability. As well as the Patent Box, you could be eligible for R&D Tax Credits.


RESEARCH & DEVELOPMENT TAX CREDITS

WHAT ARE R&D TAX CREDITS?

R&D Tax Credits are part of a UK Government-backed incentive designed to reward UK companies for investing in innovation. They allow eligible companies to claim back some of their expenditure on research and development activities. The tax relief, usually in the form of Corporation Tax deduction, provides businesses with a valuable source of cash to continue investing in accelerating their R&D, hiring new staff and ultimately continuing growth


For early stage companies who may not yet be profitable, the R&D Tax Credit can be turned into a cash repayment from HMRC providing a much needed cash injection.

R&D Tax Credits work by providing companies that are pursuing innovative projects - even if they’re unsuccessful - in science and technology with Corporation Tax relief. Tax deduction is extremely beneficial for growing businesses, and the R&D tax credit scheme even enables loss-making businesses to receive money directly from the Government.

Eligible R&D tax relief claims gives SMEs:

  • 100% Corporation Tax relief for qualifying capital expenditure like staff costs, software, materials and subcontracted R&D costs
  • Plus an extra 130% Corporation Tax relief, to make a total 230% deduction
  • The ability to surrender a loss for a tax-free refund of up to 14.5%

"I've been a client of Nigel's for almost a decade now. There's a reason for that......if you find a good accountant, stick with them. Nigel's advice is always sound and well thought out, and is backed by a no nonsense approach to getting the job done, whilst still having an excellent sense of humour. I have no hesitation in recommending both him and Acconomy as a smart partner for your business"

- Graham Dopheide, Director, FONTOF TESTING (UK) Limited

Learn More

HOW CAN ACCONOMY HELP?

Working closely with trusted partners, our financial planning and wealth management services can help you make your money work harder for you, whether you’re planning your retirement, or wanting to safeguard your business for the future. Here are the areas we can support you with:

If you think your company could benefit from R&D Tax Credits, speak to us. We’ll work with you throughout the claims process to make it as straightforward as possible, and will manage all compliance and communications with HMRC on your behalf, so you can concentrate on building your business.

We’re highly experienced in Research & Development claims. Since the R&D Tax Credit scheme was introduced in 2000, we’ve been determined to maximise the tax relief opportunities available to our clients, and have had a 100% success rate in claiming R&D tax relief for those eligible. 

So, now’s the perfect time to see if you’re eligible for a claim, if you’re a growing startup or SME:

  • With less than 500 staff
  • A turnover of under €100 million or a balance sheet total under €86 million
  • Working on a project designed to extend scientific or technical knowledge
  • In need of extra cash flow

  • BOOKKEEPING
    We offer reliable bookkeeping
    services, from processing receipts
    and invoices to credit control and
    reconciling bank accounts, working
    with QuickBooks Online, Xero and
    Xledger, among other accounting
    software providers.
  • VAT RETURNS
    We’ll prepare and submit your
    quarterly Making Tax Digital
    compliant VAT returns on your behalf.
  • QUARTERLY MANAGEMENT
    ACCOUNTS

    Get insights into your business performance and help improve future results with quarterly management
  • information and commentary, which not only includes financial performance measures, but other key details, including customer profitability, marketing effectiveness and production efficiency.
  • ANNUAL COMPANY ACCOUNTS AND
    SUBMISSION TO COMPANIES HOUSE

    We’ll take care of your Annual Company Accounts, and submit these to Companies House on your behalf.
  • CORPORATION TAX COMPUTATIONS,
    RETURNS AND FILING

    We help limited companies prepare and file their company accounts, returns and computations.
  • COMPANY CONFIRMATION STATEMENTS
    We prepare and file annual confirmation
    statements for limited companies and
    LLPs to Companies House.
  • PAYROLL
    Whether you have one employee or 1,000, We take away the hassle of payroll from our clients by providing a full payroll service.
  • TAX PLANNING
    We specialise in helping SMEs and startups become tax efficient with tax planning advice.

We go beyond the day-to-day when it comes to compliance processing for startups and entrepreneurs. Work with Acconomy as your Intelligent Virtual Back Office and you’ll have clarity on your business finances through our expert planning and advice for the lifetime of your business. Our support provides both everyday accounting services as well as long-term high level planning to ensure the greatest opportunity for growth and success. 

We’ll see where your business is today, and help you discover what it needs to thrive tomorrow. Our approach is cloud-based, meaning that we can easily (and securely) scale our support for you as your business grows, using tools like Xero, QuickBooks Online and Xledger to streamline your accounting processes.

Not only that, but we also provide specialist financial help through our trusted strategic partners, including funding, grant claims and tech stack development.

  • Investing your wealth
    Be confident that your investment strategy is perfect for your future plans
  • Saving for the future
    Evaluate, understand and set achievable savings goals
  • Pensions and retirement
    Achieve the type of retirement that suits you
  • Protecting your family and lifestyle
    Ensure you have the right protection in place
  • Planning your estate
    Protect your wealth for your beneficiaries, not HMRC
  • Buying your home
    Get the right mortgage with the right protection
  • Protecting your business & employees
    Employee benefits that are good for your business and your employees
  • Workplace solutions for employers
    Tailored workplace solutions

WHY WORK WITH ACCONOMY?

EXCELLENT TRACK RECORD
WORKING WITH
SMES AND
STARTUPS.

EXTENSIVE INDUSTRY KNOWLEDGE
& EXPERIENCE.
ACCA AND ACA
QUALIFIED ACCOUNTANTS.

TRANSPARENT PRICING WITH
NO
HIDDEN FEES.

OVER 40 YEARS OF EXPERIENCE.
XERO, QUICKBOOKS AND XLEDGER
EXPERTISE.


Nigel Simmons FCCA
Managing Director
Acconomy Chartered Certified Accountants

PACKAGES

  • Everything you require to maintain compliance with HMRC and Companies House **
  • Acconomy back-office bookkeeping, automated expense management and VAT filing
  • Payroll processing up to five people
  • Xero/QBO training and support
  • MONTHLY management reporting people
  • Initial one and a half hour business plan review
  • MONTHLY financial forecasting and scenario planning
  • R&D tax credit audit
  • Patent box audit
  • Grant funding alerts and periodic audit
  • Access to economy growth hub partners
  • MONTHLY Zoom review meeting
  • Annual pre year end tax planning Zoom call
  • From £945 +VAT/month
  • Everything you require to maintain compliance with HMRC and Companies House **
  • Acconomy back-office bookkeeping, automated expense management and VAT filing
  • Payroll processing up to five people
  • Xero/QBO training and support
  • QUARTERLY management reporting people
  • Initial one and a half hour business plan review
  • QUARTERLY financial forecasting and scenario planning
  • R&D tax credit audit
  • Patent box audit
  • Grant funding alerts and periodic audit
  • Access to economy growth hub partners
  • QUARTERLY Zoom review meeting
  • Annual pre year end tax planning Zoom call
  • From £495 +VAT/month
  • Everything you require to maintain compliance with HMRC and Companies House

    **This Includes:
  • Production of annual company accounts for micro/small businesses
  • Submission of accounts to Companies House
  • Corporation tax computations
  • Corporation tax return
  • Submissions to HMRC
  • Company confirmation statement
  • Registered office address
  • Unlimited email support
  • For Scale and Growth customers only:
  •  P11D completion and filing
  • Tax investigation insurance
  • From £79 +VAT/month

FREQUENTLY ASKED QUESTIONS

What is the Intelligent Back Office?
When are VAT returns due?
How much does Corporation Tax cost?
When is Corporation Tax due?
Who pays Corporation Tax?

FREQUENTLY ASKED QUESTIONS

Does Patent Box relief apply to SMEs?
How do you qualify for Patent Box tax credit?
What is the Patent Box Corporation Tax rate?
FREQUENTLY ASKED QUESTIONS
How far back can you claim R&D Tax Credits?
Can an LLP claim R&D Tax Credits?
How is R&D Tax Credit calculated?
GET IN TOUCH TODAY

Are you a serious startup looking for guidance and insight? Are you a growing SME looking for assistance in moving to the next level? Maybe you're based outside the UK and need a local partner for on-the-ground support?

Whatever you’re looking for, please get in touch. We’d love to discuss further how we can help.

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Arena Business Centre
Holyrood Close
Poole
BH17 7FJ

Email Us: info@acconomy.co.uk
Phone: 01202 678993

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