Making the Most of
R&D Tax Credits
Did you know that as a business owner, you could be entitled to claim money back from HMRC for work you are already doing? If your business is developing new products, improving processes or solving technical challenges, you may qualify for R&D tax credits.
Here at MRM Accountants Ltd, we support businesses across Norfolk, Suffolk and Cambridgeshire in identifying and claiming R&D tax relief, ensuring they make the most of the opportunities available.
What are R&D Tax Credits?
R&D tax credits are a government-backed scheme designed to reward businesses that invest in innovation. Importantly, your project does not need to be successful to qualify, and claims can often be backdated for up to two financial years. Depending on your financial position, R&D tax credits can be received in different ways. Profitable businesses may benefit from a reduction in their corporation tax bill, whilst loss-making companies may be able to receive a cash payment from HMRC.
Which Costs Qualify?
A variety of business costs can be included within an R&D claim, including:
- Staff costs – Salaries, wages, and related expenses for employees directly involved in R&D activities.
- Subcontractor costs – Payments to external specialists or third parties contributing to your R&D projects.
- Materials and consumables – Physical items used up or transformed during the R&D process.
- Software and cloud-based services – Costs for digital tools, platforms, and hosting used in development work.
Understanding which costs can be included is an important part of ensuring your claim is accurate and complete.
Who Can Claim?
R&D tax credits are available to UK limited companies across a wide range of industries. You may qualify if your business is:
- Developing new products, software, or tools.
- Improving existing systems or processes.
- Solving technical or operational challenges.
- Working in areas such as engineering, manufacturing,
software, food production, or specialist services.
Many businesses assume R&D only applies to laboratories or large organisations, but this is rarely the case.
Get in touch
If you would like to explore whether your business qualifies for R&D tax credits or access funding to support your plans, please call MRM Accountants Ltd today on 01603 972167 or use the Apply Now option to get started.