How can you use your R&D tax relief?
Depending on your business’s circumstances, you could benefit from:
- Corporation Tax Savings: Offset your R&D claim against your corporation tax bill for the same financial year.
- Cash Rebate: Claim a repayment of corporation tax already paid by submitting an amended return.
- Loss Relief: Carry forward R&D-related losses to offset against future profits, or surrender them for group relief.
- Cash Credit: If your company is loss-making, convert your enhanced R&D losses into a cash payment from HMRC. Benefit from a 230% tax deduction (130% uplift on qualifying costs), with the potential to receive up to 33p back for every £1 spent on eligible R&D—at a cash credit rate of 14.5%.
Maximise your innovation investment—use our R&D tax calculator today to discover your potential tax relief and cash benefits.
This calculator gives an estimate of the R&D tax relief you may be eligible for.
The table below outlines the potential benefit under the two schemes before and after 1st April 2023.
We recommend contacting our team to discuss the results before making any decisions.
|
SME Scheme |
RDEC Scheme |
Merged Scheme - R&D expenditure credit (RDEC) |
Enhanced R&D intensive support (ERIS) for SME’s |
||
Up to 31/03/2023 |
From 01/04/2023 |
Up to 31/03/2023 |
From 01/04/2023 |
From accounting periods starting on or after 01/04/2024 |
From accounting periods starting on or after 01/04/2024 |
|
Profitable company |
130% uplift on costs = 24.7% net benefit |
86% uplift on costs = 21.5% net benefit |
Headline rate 13% = 10.5% post tax |
Headline rate 20% = post tax rate between 14.7% - 16.2%* |
Headline rate 20% = post tax rate between 14.7% - 16.2%* |
Not applicable |
Loss making company |
Costs plus 130% uplift = 230 x 14.5% repayable credit = 33.4% subsidy |
Costs plus 86% uplift = 186 x 10% repayable credit = 18.6% subsidy |
10.5% subsidy |
15% subsidy |
16.2% subsidy |
Not applicable |
Loss making R&D intensive company |
Not applicable |
Costs plus 86% uplift = 186 x 14.5% repayable credit = 26.97% subsidy |
Not applicable |
Not applicable |
Not applicable |
Costs plus 86% uplift = 186 x 14.5% repayable credit = 26.97% subsidy |
Large Companies
Companies which do not meet the SME criteria are classified as ‘Large’ and can claim under the Research and Development Expenditure Credit (‘RDEC’). The exact rate of cash benefit available depends on the period for which a claim is being made, due to changes in the prevailing corporation tax rate. The maximum rate is currently 13% (qualifying expenditure incurred after 1 April 2020).
Discover how our Innovation Tax Reliefs services cover everything from eligibility checks to claim submission. Take a closer look.
📞 Please contact the R&D team by calling 020 8037 1030 or complete the enquiry form on this page and we will come back to you.
Innovation Tax Reliefs Service Team



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