Training & UpskillingR&D Tax Reliefs

Comprehensive R&D Tax Training

R&D tax is a highly technical tax specialism that presents a significantly higher risk to tax generalists without appropriate training and guidance.

The Radius team offers in-depth, up-to-date, and actionable training and direction for firms conducting R&D tax claims for clients, whether expanding their existing service portfolio or growing a dedicated in-house R&D tax team.

Our R&D training and up-skilling service covers the R&D Tax Relief scheme from top to bottom, providing all the knowledge and skills required to submit robust, high-value R&D tax relief claims on behalf of clients.

General introduction to R&D Tax Relief

What is the R&D tax relief scheme, what is its history, why was it introduced, and how does it work? These fundamentals are essential to understand to fully engage with the scheme in a compliant way that rewards your clients.

We will also help ensure your team is in the loop with ongoing updates, legislative changes, and any new opportunities for tax incentives.

Eligible expenditure

Specific criteria govern whether an expenditure qualifies as R&D by HMRC’s definition. This includes the research’s nature, purpose, application, and whether it seeks an appreciable advance in science or technology.

Record keeping and documentation

The recent introduction of the mandatory “Additional Information” form makes accurate record-keeping and documentation essential. Our team will advise on what documentation is required to support your claims, such as project plans, financial records, and technical reports.

R&D Tax Relief calculations

We will advise on the tax relief your client is eligible for based on their R&D expenditure and activities. This may include tax credits, deductions, or exemptions available.

The R&D tax relief claim process

We will advise you on the step-by-step claim process, including gathering required documentation, completing application forms, providing evidence, and ensuring all deadlines and compliance obligations are met.

R&D Tax Reliefs are changing

In November 2023, the UK government announced that the current SME and RDEC schemes will be combined into a single R&D Tax Credit scheme. This will take affect for accounting periods beginning on or after 1 April 2024 and will adopt the existing RDEC rate of 20% For loss-making entities in the merged scheme, the notional tax rate will be reduced from 25% to 19%.

For more information about the incoming changes to the scheme, read our full Autumn Statement summary.