R&D Tax Relief

R&D Tax Credits for SME

Odiri Tax Consultants & Accountants is helping small and medium business to claim R&D Tax credit and tax relief. Companies carrying out R&D can make a R&D claim and receive cash back from HMRC of up to 33% of their R&D expenditure. Odiri Tax Consultants & Accountants has launched its own R&D unit to assist start-ups, small and medium businesses with R&D tax credit and tax relief in Peterborough and across the whole of the UK.


What is an R&D tax credit claim?

Small and medium sized enterprise (SME) Research and Development (R&D) tax credit claims provide a super deduction of 230% on qualifying R&D expenditure. This super deduction reduces the amount of taxable profits subject to tax at 19%.


Additionally, if a company does not have any taxable profits (i.e. has taxable losses during the year), there is an ability to surrender taxable losses (up to the 230% super deduction) for cash back of 14.5%. This in effect provides cash back of 33.35%.


To be eligible to make an SME R&D tax incentive your business must meet certain criteria:

  • be a UK registered trading company;
  • does not receive funding for its R&D activities (nor has the work being subcontracted to your business); and
  • meets the definition of an SME (see below).


An SME is defined as a company having less than 500 employees and annual turnover under €100m or gross assets of not more than €86m. It can be complex to determine whether a company is an SME as the wider group and investors also need to be considered.


You may be eligible to make a ‘Large Company’ R&D claim (also known as an R&D Expenditure Credit (RDEC) claim) if you do not meet the definition of an SME, you have received funding or the work has been subcontracted to you. You may still be able to use Nifty R&D to prepare your claim but we will need to discuss with you the differences between SME R&D claims and Large company R&D claims, and may need to discuss alternative fee arrangements.


Is my business eligible?

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Over 15,000 businesses from a wide range of industries currently apply for R&D credits and over 80% of these are small businesses.


In addition, the government recently announced plans to improve access for small companies to R&D tax credits, so there has never been a better time to see if you’re eligible.


You’re likely to qualify if your business is:

  • a UK trading company,
  • does not receive funding for its R&D activities (nor has the work being subcontracted to your business),
  • meets the definition of an SME (see what is an SME?), and 
  • undertakes development which is advancing science or technology and facing challenges in doing so (see what is R&D?).


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Why Odiri Tax Consultants & Accountants

Odiri Tax Consultants & Accountant’s R&D unit has been specifically set-up to help start-ups, small and medium businesses with their R&D claim. We have developed our process to reduce your time and significantly reduce cost of making an R&D claim.


We ask easily understandable questions allowing you to provide all the information necessary to complete your claim quickly. 


Odiri Tax Consultants & Accountants R&D Specialists aim to review and finalise claims and provide supporting documentation within 7 days.


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What costs can I include in the claim?

You can include costs that relate to R&D activities and fall into eligible cost categories:

  • Staff costs including salaries, bonuses, employer’s pension contributions and national insurance contributions
  • Costs of external resource
  • Subcontract costs
  • Consumables costs (including software licences and heat, light and power)


Certain conditions and restrictions applyThere is no limit on the amount of costs you can include in a claim. If you know approximately what you’ve spent on the costs detailed above, use our calculator to get a rough estimate of how much your claim could be worth or contact us on 01733808075 to discuss.



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What will Odiri Tax Consultants & Accountants R&D cost?

The standard fee for Odiri Tax Consultants & Accountants R&D is 12.5% of the cash value of your claim. The cash value of your claim will depend on whether you are profit or loss making.


If you have a large or straightforward claim and would rather prefer a fixed fee, we would be happy to discuss agreeing a fixed fee instead. Contact us on to discuss.