The introduction of RDEC was a major government policy initiative. It was introduced to encourage corporates and multinationals to carry out development and innovation in the UK. By making the relief available to all companies including loss making entities, it is intended to motivate large business to invest in UK staff and resources.
The legislation has taken the claim value out of the tax line and moved it above the line, into the statutory accounts. This has the effect of increasing the visibility of the R&D relief to all company stakeholders and aligning interests.
We adapt our methodology to your company, leading to a bespoke service for each of our large business clients.
RDEC is now a payable 12% credit of eligible R&D expenditure incurred, providing an after tax benefit of 9.7% at the main rate of corporation tax currently 19% for expenditure post 01 Janaury 2018.
RDEC provides an after tax benefit of 8.91% with the main rate of corporation tax of 19% for claims applying from 01 April 2017
RDEC significantly increased the generosity of the Large Company R&D Tax Relief scheme. However, with the greater generosity, there is now greater scrutiny over certain types of claims.
Therefore, it is important that your claim complies fully with the legislation, guidelines and the relevant Finance Acts. Also that the RDEC report is as detailed, robust and thorough as possible. This helps HMRC evaluate and approve your claim.
Whether a single site or complex multi-site business, we deliver an industry leading service
The MMP technology consultants are all engineers and scientists so they share an understanding and passion for technology.
This ensures we can get the best from your team, saving you valuable time in making a full and accurate claim. All costs are forensically analysed by MMP and a project based approach is used to identify the eligible costs related to each area of eligible activity.
We will examine staffing costs, consumable costs, software, and qualifying indirect activities ensuring the maximum value from an eligible claim.
We believe that everything we do challenges the status quo of our industry. We believe in thinking differently. The way we do that, is to think all the time about you and how you would like to work and how you would design our service to best meet your needs and then that's what we believe in delivering.
The MMP team includes tax experts and qualified technologists from a wide variety of backgrounds and deep domain experience. By combining our skills and abilities, we can do more and achieve better results. From the technical interviews we have with your team, we create a comprehensive report to submit to HMRC. We take the time to really get to know your company, the technology and your needs.
Whether you are already claiming RDEC, not sure where to start or not sure you're getting the best value from your existing approach to claiming Research and Development Expenditure Credits, contact us now to discuss how we work with Industry leading Large Businesses across the UK.Contact Us