You may have heard of R&D Tax Credits but may not be clear on how to claim it or where it fits into your company reporting process?
In this video, we clarify the process for claiming R&D tax relief for profitable companies and R&D Tax Credits for companies that make a tax loss in a financial accounting period.
The CT600 and supporting tax computation – that form the basis for making R&D tax claims – must be filed annually, regardless of whether you are seeking to claim the UK R&D tax incentive.
In this case, you slot your R&D claim into the tax return and file it with HMRC. HMRC have specialist R&D Tax units that aim to process claims within 28 days (which could be great for your cashflow!)