We hope you enjoy reading this business blog post...

If you would like our help with your R&D or Capital Allowance Claim, or to discuss a small business loan, please use the form on this page and state how we should contact you; thank you.

SME R&D Tax Relief: R&D SME Tax Credit Scheme for Small Businesses

  • Home
  • /
  • SME R&D Tax Relief: R&D SME Tax Credit Scheme for Small Businesses
sme r&d tax relief - Photo of a man at a computer working - Hamilton Wood and Company London Birmingham

SME RESEARCH AND DEVELOPMENT TAX RELIEF

SME R&D tax relief is an effective way your business can strengthen its’ bottom line and, in many cases, trigger an almost immediate cash award worth over £45,000 as an industry standard.

Hamilton Wood and Company, established in 2017 are leading industry specialists when it comes to the Research and Development Tax Credit incentive.  Our Managing Director is a fellow of UK Research and Innovation (UKRI).

UKRI is a non-departmental public body of the Government of the United Kingdom that directs research and innovation funding, funded through the science budget of the Department for Business, Energy and Industrial Strategy.

R&D Tax Credit Statistics 2022 - Info Graphic - Hamilton Wood and Company London Manchester-01

Furthermore, our Senior R&D Tax Credit Specialists reside on HMRC’s consultation committee for R&D, so with us, you can have peace of mind safe in the knowledge your research and development claim is being looked after by our award winning professionals.

Sadly, in recent years, there have been many ‘popup shops’ that have appeared in the R & D claims industry, and some of the new entrants claim unimaginable claim values to entice you to use them.

An industry standard award for most SME’s can range widely from roughly £20,000 back to about £54,000 back.  Many of these new entrants to this market commonly use high pressure techniques and invariably make bold claims that often can’t be substantiated.

Thankfully, Hamilton Wood and Company have been delivering safe and robust R&D claims for our customers since we were formed in 2017.

We will get your company the maximum safe R&D claim award under the prevailing rules of the various R&D incentives.

We provide a fully indemnified process as well as delivering ongoing support should it ever be required.  With HMRC having now launched a variety of campaigns to tackle fraud where claims have been misappropriated, by partnering with Hamilton Wood and Company you will benefit from our expertise as outlined above and can rest assured that our experts professionally handle your claim from start to finish.

WHAT QUALIFIES AS R&D

rd tax relief - photo of business man taking notes - Hamilton Wood and Company RD Tax Specialists London Nottingham-01

For SMEs to safely claim R&D tax credits your business must be conducting eligible R&D activities.

YOU CAN RECOVER IN VARYING PROPORTIONS:

  • Employee Costs
  • Subcontractor Costs
  • Software Costs
  • Consumable Items
  • Materials
  • Utilities

Now, trying to identify all eligible activities and the resultant allowable costs incurred can be a minefield. It is critical therefore that your business gets it right.

Failure to correctly substantiate your R & D claim will likely see your business receiving a letter from HMRC that could be a precursor to a public and criminal court case.

While HMRC is not accusing companies openly of fraud, what they have made clear is that if you file your claim incorrectly, anything a company might say to HMRC about their claim could be used as evidence in respect of any future criminal investigation.

To protect and safeguard your company from the risk of an HMRC investigation, if you have been spending time and money trying to improve your products and services then get in touch with one of our friendly R&D Tax Specialists today who will be happy to help you.

We will quickly identify any projects that may have recoverable elements remaining therein and advise on how to safely recover your correct R&D award.

We streamline and simplify the process of claiming R&D tax credits so you can get on doing what you do best, running your company.

Benefit from our award-winning advice and support, contact our experts now by using this webform.

R&D CLAIM EXAMPLE | SME R&D SCHEME

r&d claim time limit - photo of man ticking boxes - Hamilton Wood and Company Oxford Cambridge London-01

Pre 31st March 2023From 1st April 2023
£100k Qualifying Spend£100k Qualifying Spend
Enhancement +130%Enhancement +86%
Amount claimable in every pound: 33.3pAmount claimable in every pound: 18.6p
CASH REBATE AWARD DUE: £33,350CASH REBATE AWARD DUE: £18,600

 

If there are some months to go until 31st March 2023 and your business has not yet claimed R&D tax relief, as you can see from the SME R&D Tax Credits example above, the rules are about to change which will see future claims values fall sharply.

For this reason, if you are yet to claim, to ensure your business doesn’t lose out on the more generous current scheme, give our specialists a call and we can FastTrack your R & D claim.

In doing so, we will have enough time to substantially benefit your company’s bottom line; and with the economic outlook being what it is currently prudent business owners would do right to explore every avenue to get more of their money back in their business.

This is where we can help add significant value to you and your business.

R&D CLAIM DEADLINE

  • For the avoidance of doubt, the rules surrounding the scheme will change from 1st April 2023 and become less generous for SMEs.
  • The true R&D claims deadline is two open tax years.  After two open tax years pass, so does the ability to claim R&D for the previous years.

HOW DO R&D TAX CREDITS WORK

Woman at Computer

 

Research and Development tax credits are designed to encourage businesses to innovate.

They reward businesses that are investing time and money trying to develop new products and services or perhaps even enhance existing ones.

R&D TAX SPECIALISTS: HAMILTON WOOD AND COMPANY

Hamilton Wood and Company Manchester are multi-award-winning, leading national specialists in claiming R&D tax credits and innovate UK grants.

Higher than average award (Safely)Fully managed process
Award-winning teamLimit your time involved <2hrs
Snr. Specialist on HMRC’S R&D panelOptimal benefit secured for our customers
Low success feesRobust fully prepared narrative
100% SuccessMD a fellow of UK Research and Innovation
Ongoing SupportLow and affordable fees

 

Our R&D Tax Credit Specialists are here to help you.

If your business has spent money trying to improve what it does, then if you are unsure if the work you have been doing qualifies, give one of our friendly advisors a call and we will be happy to help you.

R&D TAX CREDIT SERVICES:

Our experts help businesses from all over the UK. We deliver our professional help and support over video or phone calls and limit your time involved to just a couple of hours over a 6 to 9-week process depending on how detailed the intricacies of the claim are.

CLAIMING R&D TAX CREDITS

Our R&D claims process - Hamilton Wood and Co London Manchester-01

HOW TO GROW A BUSINESS | BUSINESS GROWTH STRATEGIES

R&D claims remain one of the best tools a Limited business can use to facilitate business growth.

Most SME’s benefit from an average yield of over £45,000 to £54,000 depending on the industry.

As already discussed, this normally comes by way of an immediate cash award so this is real, tangible money back in your business quickly and safely.

If you have any questions relating to work your business has conducted and you are unsure if you have the basis for a claim, get in touch with our friendly team of experts today by completing this webform.

R&D Or, check out our ultimate guide to R&D tax credit claims by clicking this link

OK, so in this short article, we will cover the eligibility for an R&D tax claim and also some of the nuances surrounding them.Let’s assume you have been taking steps to improve your business by investing in developing new products and processes. Despite this work, we reason you’re not quite sure if you may have the basis for a successful R&D tax credit claim.So, let’s cut to the chase.It is

Read More

I am not aligned with any party btw, I vote depending on who has the best policies at the time. Now that the above disclaimer is out of the way, let’s crack on, BREXIT; it’s almost a swear word in most households and businesses primed to create a chasm of a divide. Having said that; having witnessed firsthand how many of my acquaintances and few friends I have considered the

Read More

Small and medium-sized enterprises (SMEs) need a stable cash flow to run their operations smoothly and meet customer expectations. However, boosting cash flow can be a significant challenge, especially since the ongoing cost-of-living crisis and inflationary pressures in the UK have translated into a decline in consumer spending. On top of a 0.4% dip in sales online and offline, small business owners have to grapple with increasing operating costs and energy

Read More

BUSINESS LOANS UK We make getting a business loan a quick and efficient process.  If you’re looking for a flexible business loan then our friendly team can help you. To apply for a business loan now, please click this link. Hamilton Wood and Company provides access to the best business loans available subject to your business’s status. We aren’t limited in terms of what businesses we can help.  We are

Read More

TOP 11 WAYS TO GROW YOUR SMALL BUSINESSIn this article, we will provide an overview of some of the alternative ways to grow your business.Business growth is one of the skills any entrepreneur has to learn to keep the dream alive.Contrary to some of the avenues for advice, we will provide advice based on some of our own findings and feedback received from other businesses since we were incorporated in

Read More

Research and Development Tax Relief is an advantageous way for businesses to recover money from the expenditures incurred whilst trying to develop new or improved products and processes.Since its inception in the year 2000, this business tax incentive that is based on the law has helped many UK businesses raise additional capital that is often re-invested into the business seeking further innovation.The reason the incentive exists is that it is

Read More

When it comes to R&D Tax Relief, we have a long and proud history of supporting UK businesses' R&D tax claims safely and securely.Has your business spent money trying to improve your products and services?  The outcome is not as important as your trying.If you have spent money trying to improve your business in some way or another, and are uncertain if your business qualifies for a research and development

Read More

Specialists in the R&D Tax Rebate, Hamilton Wood and Company are UK leaders in this complex innovation incentive offered by the UK Government.Established all the way back in 2017, we are recognised as delivering sturdy and robust R&D tax relief claims for UK companies.R&D Tax Credits are a complex area of UK Tax Legislation often falling outside the scope of a traditional accountant’s work, in much the same way Capital

Read More

Hamilton Wood and Company are the UK’s leading R&D Tax relief specialists.We have over 60 years of combined experience with the working application of R&D Tax Credits.Our Managing Director is a fellow of UK Research and Innovation (UKRI). UK Research and Innovation is a non-departmental public body of the Government of the United Kingdom that directs research and innovation funding, funded through the science budget of the Department for Business,

Read More

Access to Finance is a vital lifeline for businesses.  Access to affordable finance is perhaps even more important. If you and your company are looking for low-fee business loans, Hamilton Wood and Company provides access to some of the best small business loans in the United Kingdom (UK). We are on your side to help you get a great deal on your next company loan.  We understand the many challenges

Read More

Hamilton Wood and Company are a respected and trusted loans broker in the United Kingdom (UK).We help businesses of all sizes find and secure affordable business loans to help facilitate growth.Established in 2017, since then we have gone on to help countless businesses secure business funding at extremely competitive rates.Access to finance at an affordable rate is a vital element of continued growth and development.As a company, we are often

Read More

BUSINESS FINANCE----6 Minute Read----Hamilton Wood and Company are a trusted commercial finance specialist helping UK businesses grow.  We provide access to a range of loans for businesses.In this article, we will delve a little deeper into the many ways a business can secure commercial finance whilst providing a balanced overview of each type of business funding.HOW TO GET FINANCE FOR A BUSINESSIf you are already in business and trading for

Read More

The Government sets a limit dictating how much Anual Investment Allowance (AIA) a business can claim each year. In January 2019 the rate of AIA was set at £1,000,000 and this change is in place permanently according to the Government, however, as with most taxable thresholds they could be reviewed again in the future with the claimable amount increasing or decreasing in line with the in-power Government policy.AIA is a

Read More

Hamilton Wood and Company are specialists in Property Development Finance. If you are a property developer with a limited company we can help you. We pride ourselves in offering some of the best small business loans with some of the lowest arrangement fees around. Our goal is to help UK businesses as much as we can, and one of the ways we do that is by delivering affordable loans for

Read More

The rules with the schemes will change from 1st April 2023, which will reduce the amount smaller businesses can recover, so if you've not yet claimed, contact us today so we can safely maximise your claim in line with the current rules.Research and Development (R&D) tax relief is a beneficial scheme for large and small businesses in the United Kingdom.The scheme allows businesses developing new products and services to recover

Read More

How to Qualify for a Small Business Loan UKWe're often asked 'How can I get a small business loan for my company?' So, in this 5-minute article, we will take a deeper dive into this common question.First off, we have to understand if you’re yet to get started on running a business and searching for a start-up business loan, or if you are a pre-existing organization seeking a small business

Read More

Plenty of people ask us tips to get a business loan, and so in this quick 5-minute article, we will answer this question.Firstly, we ought to understand if you’re yet to begin running a business and searching for a start-up loan, or if you are an active company in search of a small business loan.Although these situations might seem similar, they are really vastly different, as are the conditions and

Read More

A lot of people ask us how to get a business loan......so in this quick 5-minute post we will answer this question.First things first, we need to understand if you’re yet to start in business and seeking a Start-Up Loan, or if you are an existing business seeking a small business loan.These two scenarios may seem similar, yet they are vastly different, as are the conditions and measures lenders use

Read More

The Top 10 Ways to Grow a Small Business (In our opinion) This 5-minute post is for anyone who wants an alternative view on growing a small business.  We have linked to some of our favourite videos that we found useful and insightful.  If you like this post, please consider sharing it, thank you. 1. Work to LEAN principles What are lean principles? Well, they’re used by some of the

Read More

We’re a small, but powerful team of business specialists who have one sole aim, to help contribute to your business’s ongoing success.We do this through a carefully selected range of business services all designed to help improve your cash flow and business performance.One of the most popular services that can deliver significant sums to your business is our R&D Tax Credit Service.So, what are R&D Tax Credits?R & D Tax

Read More


Gain Expert Advice and Support from our Team of Specialists

Benefit from getting more of your money back in your business

With initial free advice and support, take advantage of a complimentary chat with one of our experts today.

How can we help you?
R&D Tax Relief
Business Loan
Capital Allowances
0 of 350