Chamber R&D

Radius by Shorts – helping chamber members understand R&D Tax Relief rules, maximise their claims, and minimise disputes with HMRC

Chamber members may be familiar with the government’s R&D Tax Relief scheme, an incentive program offering innovative companies Corporation Tax relief of up to £15,000 for every £100,000 spent on R&D*.

*Rates apply for periods beginning on/after 1 April 2024. Relief is worth slightly more prior to this.

In a continuing and intensive effort to crack down on fraud and error in claims, HMRC has merged the SME scheme into a simpler RDEC scheme and made mandatory more detailed supporting documentation.

This means that while the benefits for qualifying businesses are still generous, there is far more scrutiny from HMRC now, which means it has never been more important to ensure R&D Tax Relief claims are robust and done properly.

Company situation	Net relief available
Profitable companies	15% net relief (equals £15,000 for every £100,000 spent on R&D)
Loss-making companies of those that make <£50k in profits.	16.2% net relief
R&D-intensive companies	Up to 26.97% net relief (based on the credit rate)

Support for chamber members

Chamber members who conduct R&D projects or are not sure if their innovative projects would qualify, are encouraged to contact the Radius team at Shorts Chartered Accountants, a team of qualified, dedicated specialists in R&D and associated incentives like Patent Box.

The Shorts team can help you in several ways, including:

Accurately assessing your company’s eligibility for R&D Tax Reliefs and Patent Box.
Helping you understand the differences between old and new schemes, including the new merged RDEC scheme introduced in 2024.
Ensuring your claims are robust and fully compliant before submission to HMRC.
Assisting with procurement and checking of all required documents, including the new “Additional Information” form.
We can also offer support in resolving issues for companies with existing or historical claims under investigation by HMRC.

The Radius team includes a former HMRC R&D tax inspector with unrivalled knowledge of the scheme’s benefits and challenges.

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