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New R&D Scheme

A new R&D scheme has been introduced for accounting periods starting from 1 April 2024. This new scheme combines the two previous schemes (SME and RDEC) into one main scheme, which applies to all companies regardless of size. There is also an extra allowance for loss-making “R&D Intensive” companies.

How Does The New R&D Scheme Work?

Following identification of eligible R&D projects, the total qualifying expenditure will be calculated by Fiscale (see below for eligible costs). 20% of these costs can be claimed as a taxable credit. This credit will be treated as income in your company accounts, and taxed at your corporation rate. The credit can then be used to either offset your corporation tax liability, or, if your company does not have a corporation tax liability, a slightly lower cash credit can be paid.
As the 20% R&D credit is taxable, the net benefit of making an R&D claim in the new scheme is up to 16.2%, depending on whether your company is profitable or loss-making.

What Is An R&D Intensive Company?

If your company is loss-making and spends more than 30% of its costs on eligible R&D projects, then you may be able to claim a higher level of tax relief up to 27%.

Could You Be Eligible?

If you would like to discover whether your business may qualify for R&D tax relief
REQUEST A CALLBACK

What expenditure is eligible for R&D Tax Credits?

Staffing Costs

Consumables

Software

Subcontractors

Technological uncertainties of furniture manufacturing for R&D Tax Credit

Externally Provided Workers

Subsidised Costs

Fiscale’s Step-by-Step guide to R&D Tax Relief

When working with Fiscale, we make the process of claiming RDEC as simple and painless as possible.

Assessment

We establish if the activities you are undertaking, meet the criteria set out in the corporation tax legislation. This can either be done face-to-face or on a call.

Technical meeting

Following the initial meeting to establish eligibility, we will then arrange a follow up to get to know (and understand) the work that you are undertaking. Typically, this meeting takes two hours and involves going though potentially qualifying projects in detail. At this meeting we will talk to the members of your team who are involved in the R&D, along with your financial team. We will also outline what is involved in processing a claim and the level of input required by your team.

Draft report

As a result of the in depth technical meeting, we are then able to draft a report and calculate the value of your R&D claim. There will likely be some additional questions raised to ensure that all angles are considered, to ensure we claim the correct benefit for you.

Submission

Once the report has been agreed by you, we then submit it to HMRC and deal directly with them on your behalf. You have the peace of mind that the report will be an accurate representation of your activities. We will also ensure that it is presented in a way that meets the requirements of HMRC.

Review

Once the claim has been made, we will review your systems to help identify any areas of record keeping to support future claims. As a result, all future claims can be streamlined, making the process more straightforward.

Benefits of Working with Fiscale

Our management team have hands on experience in a diverse range of business sectors. We have a highly skilled team of research and development tax experts, including Chartered Tax Advisors, experienced in advising UK companies on all areas of Corporation Tax.

What do our clients get from their relationship with Fiscale ?


“Tailored advice and solutions by R&D Tax Credit professionals to benefit innovators”


As we have a sharp focus on R&D tax incentives and any changes to legislation. We work exclusively in this specialist area of tax and are therefore able to focus our full attention on R&D claims, ensuring correct detail and accuracy at every stage. Fiscale have already invested over £100,000 in bespoke systems to manage the claims process and enhance the client experience. All of our clients have a nominated account manager as a single point of contact, in order to ensure they are fully aware of the status of their claims. Take a look at our client experiences in our Sectors>Case Studies pages.

The team at Fiscale have taken our leg work out of our R&D tax refunds. They are thoroughly professional, friendly and helpful. Having developed a clear understanding of our business, the team prepared all the necessary reports and documentation for each claim, which has allowed us to maintain our focus on our growth, via a cohesive research and development plan. They have advised us within our R&D function, both retrospectively and as we move forward. I highly recommend them.

Charlie Dalton, Smart Garden Offices

Fiscale are a rare example of a thoroughly professional company, staffed by deeply experienced and pro-active people. A very rewarding pleasure… money from the tax man that we had previously not expected, all facilitated by really nice people.

Tim Meadows-Smith, New Media Group

Fiscale have enabled us to recoup some of the significant amount of investment that we have made (and continue to make), in new and innovative projects for our digital publishing business. This keeps us at the front of our market.

Mark Johnston, Vetstream
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Could You Be Eligible?

If you would like to discover whether your business may qualify for R&D tax relief
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