R&D Tax Credits FAQs

What is R&D?
R&D – Research and development, is a level of innovation or improvement with a process, product or service and can take place in any project within any business sector.
How do I find out if I'm eligible to claim for R&D?

When you book in a Green Jellyfish telephone consultation, one of our expert team will take the time to learn about your business and its potential qualifying R&D activities. Don’t worry if you aren’t sure what qualifies, our experienced team ask just the right questions to assess your project’s eligibility.

Can I submit an old project claim?

You may claim for projects you activated within the previous two accounting years. Due to the flexibility of the R&D Tax Credit schemes, many businesses can backdate their claim and, as a result, receive more money than anticipated.

How are R&D Tax Credits Paid?

R&D Tax credits can be paid in three different ways – cash credits, a Corporation Tax rebate, or an expenditure that you may take forward against future profits.

How to qualify for R&D tax credits?

To qualify for the scheme, UK companies must have conducted an R&D project that sought to advance scientific or technological products, services or processes.

Why should I get Green Jellyfish to do my R&D claim?
  • We will handle all the paperwork for you
  • Get the money you’re eligible for quickly and painlessly
  • Utilise our experience to get the best possible result
  • Enjoy exceptional service from our expert team
Can I still claim if my project is still ongoing?

Yes. The goal of R&D is to encourage industry innovation in all its forms, not just successful or finished projects.

What documentation do I need to prepare to claim?

All we will need is a copy of your accounts and CT600.

Innovate, invest and grow your business

Just a simple meeting to discuss your business can help us to assess your eligibility for an R&D claim. Find out if you can qualify today.

See how we can help your business

Want to set up a meeting? There are a few ways we can contact you. We typically begin with a simple video or phone call; however, we are happy to meet you face-to-face if that is your preferred option. These meetings are free, and there is absolutely no obligation to proceed.

Can charities or sole traders claim for R&D tax credits?

No, they cannot – only companies accountable for Corporation Tax (limited companies) can claim Research & Development Tax Credits.

My project isn’t finished yet, can I still claim?

Yes – The idea of R&D is to reward businesses for innovating, not just completing projects.

How much do you charge?

Our standard fee is 20% of the refund amount, with our minimum fee being £1,500.

Do R&D Tax rates differ for SMEs & Larger businesses?

Depending on your company size, R&D Tax Rates can differ. SMEs are classed as companies with below 500 employees and can claim a higher percentage than larger companies.

Can I claim for failed projects?

Yes – the purpose of the scheme is to encourage companies to undertake projects for innovations. It is about companies investing in developing new or enhancing existing products, services, or processes.

Will HMRC investigate my R&D claim?

Possibly, though this is usually a request for more information, which we will deal with on your behalf.

Let's Get Started

Ready to embark on your R&D journey? Our team of friendly experts are eager to help your business excel. Whether you have groundbreaking ideas or technological challenges, we’re here to support you every step of the way. Take the first step by using the button below to get in touch with our team today.