What companies can get from the RDEC scheme.
Research and Development Expenditure Credit (RDEC) is a type of R&D Tax Relief, intended for large companies or companies that have their R&D efforts subsidised.
Still an SME? Go to our R&D Tax Relief page.
The RDEC is a taxable credit and the generosity rate from 01 April 2020 has increased to 13%.
At the current rate, for every £100,000 a company spends on eligible R&D they'll receive approximately £10,000 back from the Government, even if they are loss making.
It can be difficult, time-consuming and cumbersome to identify and calculate RDEC claims.
It doesn't have to be.
We do the heavy lifting so you don’t have to.
In many large businesses, R&D isn't carried out by just one department or facility. It is often woven throughout a company's activities, involving multiple teams and locations. This can make compiling and submitting an RDEC claim much more complicated; with the need to collect information from large numbers of employees, requiring significant time and project management. Our technology tax consultants are also engineers and scientists, able to offer a depth of knowledge that makes even complicated claims feel much simpler.
MMP specialises in identifying eligible R&D activities. We're recognised as industry experts in this area, having been nominated for (and won) several awards over the years. Our team will schedule interviews to connect with the right people in your organisation, drilling down to gather the necessary information with minimal input from your side.
Rely on us for regular updates, so you'll always know where we're at in the process and any new information we've discovered. We do the heavy lifting at each step, so you can focus on your job.
Our passion for innovation means we genuinely love what we do. It also means we're confident that you and your team will enjoy working with us.
Our engineers and scientists speak your technical team's language - it's our way of quickly building trust and rapport that lasts. We conduct efficient and productive information-gathering interviews, and produce accurate, easy-to-read project write-ups for submission to HMRC.
As RDEC and other tax reliefs have become more generous, the level of scrutiny applied to each claim has likewise increased. Our work on your application results in a robust submission that meets the guidelines and claims the maximum amount you're entitled to.
we're on a mission to maximise value from your innovation.
What's the process?
To learn more about working with MMP, please check out our methodology.
Our real-world experience of manufacturing, operations, development and finance means we quickly get to the heart of your business activities. Where you are now, what's been done so far, who has been working on it and link this to expenditure. Our technical people will speak with your technical team ensuring robust, efficient and enjoyable conversations.
Our engineers and scientists put together a comprehensive report that clearly articulates why your projects are eligible for RDEC. We've used our experience of thousands of approved RDEC claims to develop a report that is perfectly targeted to answer the inspector's questions. This lowers the chance of an enquiry, ensuring you get your tax relief as quickly as possible.
Calculation and net benefit
Utilising all the information gathered we perform a detailed analysis of your cost basis, identifying all expenditure which is potentially eligible for RDEC. We'll work with you accountants and auditors to ensure the claim is correctly included in your accounts and tax computation.
We also provide insights and recommendations to you to help maximise and streamline future claims.
Our skilled team communicate with the HMRC inspectors early in the process to head off any questions and where there is further clarification needed, we ensure this is handled quickly and efficiently making the process as easy for you as possible.