R&D Tax Credits for
Medical Companies
Medical activity and R&D Tax Relief.
Medical innovation is the poster child of research and development, with advances in this sector being crucial to the wellbeing of society. It's unsurprising that there is a lot of funding on offer to support Medical R&D, and R&D Tax Credits is no exception.
Qualifying Medical expenditure for R&D Tax Credits.
Research and development focused on the discovery of new pharmaceutical drugs.
Innovating devices for administering drugs or monitoring patients.
Conducting clinical trials for novel medication.
Enhancing the speed of process for existing medications.
Streamlining the diagnosis of medical conditions through innovative testing methods.
R&D Tax Credits, explained.
What are R&D Tax Credits?
The Government implemented the Research and Development Tax Credits (R&D Tax Credits) Scheme to help fuel innovation in the UK, by rewarding companies bringing new products, processes or services to market.
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How do R and D Tax Credits work?
Companies that spend money developing new products, processes or services - or enhancing existing ones - are eligible to claim R&D Tax Credits. If you're spending money on innovation, you can file for R&D tax relief and receive it either a cash payment or a Corporation Tax reduction from HMRC.
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Is my medical business eligible for R&D tax relief?
To make an R&D Tax Credit claim, you must meet the following criteria:
Be a UK limited company that is subject to Corporation Tax
Have carried out qualifying research and development activities
Have spent money on these activities
Our end-to-end R&D Tax Credits Service.
The HMRC-recommended approach to R&D Tax Credits.
Fixed Fee, no upfront costs.
We take the stress away from claiming R and D Tax Credits. Our specialists complete both the Financial and Technical reports and submit your R & D claim to HMRC so you don't have to.
We're so confident in our end-to-end R&D Tax Credits service that our fixed fee is charged only upon success. ​
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What's included?
R & D Claim completion within 3-5 working days
End-to-end R&D Tax Credits service
Financial & Technical Report completion
Dedicated Account Manager & R&D Tax Specialist
100% Success Rate
Full HMRC Enquiry Support at no extra cost
Trusted by medical companies.
FAQs: Medical R&D Tax Credits.
Is there a minimum spend associated with R and D
Tax Relief?
No - there isn't a minimum threshold for R&D spending that qualifies to claim R&D Tax Credits. As soon as you incur costs through qualifying R&D activities, you can start claiming!
Once my R & D claim is approved, how long does it take to receive the benefit?
HMRC aims to pay out R & D tax credits within 28 days. Typically, we see our clients receive their tax benefit from HMRC within 4-6 weeks.
What are the benefits of using a fixed fee R&D Tax Credit provider?
Over time, projects spend more money on qualifying R&D activities. As their claim size grows, percentage-based advisors charge proportionally large fees (10-30% of the benefit) for conducting a very similar service. We don't believe that any advisor should take £100k out of a £500k claim. With a fixed fee, our clients take home a greater return to reinvest into their business' growth.
Can travel expenses be included in my R & D Tax Credit claim?
Yes, travel expenses (i.e - flights and hotels) can be claimed within your R&D tax credits. But for these costs to be included in the R & D claim, employees must have paid for them as an out-of-pocket expense on their personal card and been reimbursement by the business.
Which areas of my medical expenditure can be reclaimed through R&D Tax Credits?
R and D Tax Credits allow claimants to recover up to 27% of costs spent on staffing, subcontractors and consultants, hardware, software, consumables, and payment to the subjects of clinical trials.
Are there any upfront costs involved in Claim Capital's service?
At Claim Capital, we believe in joint success. So, we don't charge our clients a penny until they receive their R & D claim benefit from HMRC! Only then do we operate our fixed fee.