Our R&D Tax Credit Calculator is a quick and useful tool for estimating the potential value of your R&D tax credit claim, and all you have to do is answer some simple questions.
Get an approximate idea of how much your business might benefit from R&D tax relief.
If your SME is making a profit, R&D tax credits will reduce your Corporation Tax liability for the year. The rate of relief is 25%. For example, if you spent £200,000 on R&D last year, you could receive a £50,000 reduction on your Corporation Tax bill.
If your SME is making a loss, you won’t have a tax liability to offset. As a result, HMRC will pay your R&D tax credit in cash. The rate of relief is approximately 33%. For example, if you spent £200,000 on R&D last year, you could receive a cash credit of £66,000.
The Research & Development Expenditure Credit (RDEC) is designed for large companies who don’t satisfy the eligibility criteria for the SME scheme. It is also for SMEs who, in certain circumstances, are prevented from claiming SME R&D tax credit.
The RDEC is paid as a taxable credit of your R&D costs. The current rate for the RDEC is 13%. Because it is taxable, the cash benefit you’ll receive is 11% after tax. You can then offset the RDEC against your tax bill or, where there is no tax payable, you will receive the net amount as cash. For example, if you spent £200,000 on R&D last year, you could receive a £22,000 cash credit or tax reduction.
Our R&D tax credit calculator will help you estimate what your business could potentially gain from claiming R&D tax credits.
We estimate you could receive up to
as a refund or reduced tax liability
No online tax credit calculator can give you an exact result. For example, there may be R&D tax opportunities you haven’t considered, because you didn’t know they qualify. In our experience, software companies who submit their claim themselves, or via a generic R&D Tax Credit advisor, usually don’t claim for everything they should. As a result, they receive significantly less than they are entitled to. Here, at SSP, we have the knowledge and expertise to uncover all your qualifying costs, including the costs other advisors will overlook. We will ensure you receive all the tax credit relief your business is due.
To be certain you’re maximising your claim to its fullest potential, our expert advisors are here to help.