Accounting for R&D Tax Relief and Patents

Can your Company reduce its tax rate to 10%? Can it claim a deduction of 230% on its expenditure?

The new Patent Box Tax regime commenced in April 2013 and allows companies who own or licence registered Patents the opportunity to reduce the Corporate Tax rate on some of their profits to 10% once the relief is fully phased in. Many such companies are also involved in R&D and can claim up to 225% of R&D expenditure as a tax deduction or credit. This all means that companies carrying out R&D or who are involved in Patents can reduce their tax liabilities significantly. Speak to our R&D tax adviser to find out how we can reduce your tax.

What our R&D tax advisers offer:

R&D Tax Relief:

  • Review of R&D activities and costs to determine those which qualify for tax relief
  • Reports on qualifying R&D activities and expenditure for submission to HMRC
  • Negotiation with HMRC regarding the R&D claim
  • Advice on:
    • Viability and likelihood of the success of an R&D claim
    • Record keeping requirements for R&D tax relief purposes
    • Details of qualifying expenditure
    • Structuring accounting systems so that the R&D tax claim process is efficient
    • Maximising R&D tax relief

Patent Box:

  • Benefit not only from protection of your intellectual property but also lower tax rates on products, services and licencing income
  • Commercial advice on:
    • The beneficial impact electing into the scheme on your business
    • Developing a patent strategy for your business
    • Achieving the patent in a way that qualifies for the regime
    • Maximising the patent box claim

Would you like us to call you?

Key People

More Sectors

Our accountants have considerable expertise in several industry sectors to help entrepreneurial businesses meet and exceed their objectives

  • Agriculture Accountant Cumbria

    Agriculture Accountant

    Read how our agriculture accountants assist farmers and rural businesses with accounts, tax and estate planning.

  • Business Startup Accountant Cumbria

    Business Startup Accountant

    Learn how our business startup accountants can guide you through the process of starting your business.

  • Care Home Accountant Cumbria

    Care Home Accountant

    Find out why care homes choose to work with our care home accountants team.

  • Charity Accountant Cumbria

    Charity Accountant

    Discover how our charity accountants help charities and not-for-profits with accounts, tax and advice.

  • Construction Accountant Cumbria

    Construction Accountant

    Learn how our construction accountants help construction firms and contractors improve cash flow and profitability.

  • Contractor Accountant Cumbria

    Contractor Accountant

    See how our contractor accountants help contractors and freelancers grow profitability and reduce tax.

  • Family Business Accountants Cumbria

    Family Business Accountant

    Read how our family business accountants help family businesses continue successfully for years to come.

  • Healthcare Accountants Cumbria

    Healthcare Accountant

    Read how our healthcare accountants help dentists, GPs, vets and opticians with accounts, tax & advice.

  • Hotel Accountants Cumbria

    Hotel Accountant

    Discover how our hotel accountants help hotels, guest houses & accommodation providers with accounts, tax and advice.

  • Leisure & Tourism Accountants Cumbria

    Leisure and Tourism Accountant

    Learn how our leisure and tourism accountants help restaurants, hotels, pubs and tourism businesses.

  • Professional Practice Accountant Cumbria

    Professional Practice Accountant

    Discover how our professional practice accountants help architects, solicitors, surveyors and consultants.

  • Property Accountant Cumbria

    Property Accountant

    Learn how our property accountants can provide you the right advice on tax, capital gains and tax issues.