About Elevate R&D Solutions 

Accessing funding for R&D projects can be difficult for companies due to the high-risk nature of such projects and the significant investment required. Securing funding through grants, external investors, or government funding can be complex and time-consuming, creating further obstacles. As a result, companies may struggle to fund their R&D initiatives, limiting their ability to innovate and compete in the marketplace.

At Elevate R&D Solutions, we help companies investing in R&D that advances science or technology to access free funds or reduce their corporation tax bill. We also help accountants and R&D tax consultancy firms to support their clients in assessing R&D funds. We do this by providing specialised project assessments and compiling the technical reports needed to claim R&D tax relief under the R&D Tax Credit Scheme.

We understand that the technical requirements, the time required to compile the claim, and the complexity of the claim process can be dissuaded. Hence, at Elevate, we are equipped to alleviate the complexity, simplify the claim process, and help you maximise your claim.

Why work with us 

Maximize Your R&D Funding: Our specialized assessments and technical report writing services ensure you access the maximum R&D tax relief funds available to your company. We adopt a holistic assessment approach that enables us to assess and analyse every aspect of the projects completed to identify qualifying R&D projects and the relevant direct and qualifying indirect activities and compile a robust technical report with the aim of maximising your R&D claim amount.
 

Expertise and Guidance: Our team of experienced professionals provides expert guidance throughout the R&D tax relief process, ensuring you meet all requirements and optimize your claim. We offer an efficient service, ensuring no delays in submitting your application. 
 

Save Time and Resources: By outsourcing your R&D assessment and technical report writing to us, you can save valuable time and resources, allowing you to focus on your core business activities.

About R&D Tax Incentive Scheme

The UK research and development tax credit scheme, introduced in 2000, is a government-backed scheme designed to help drive innovation across all sectors within the UK.

The UK Government places significant emphasis on business as the primary driver of economic growth and innovation. Thus, the UK's research and development (R&D) tax credit schemes are pivotal in supporting innovative activity among UK-based companies. These tax credit schemes are an essential factor for businesses when assessing the competitiveness of the UK's corporate tax system.

By incentivising businesses to invest in R&D, the UK Government aims to foster innovation, enhance productivity, and bolster the country's economic growth. The R&D tax credit schemes have proven effective, encouraging companies to engage in R&D activities that might otherwise be deemed too risky or costly.

Estimated R&D Relief Claimed for 2021 to 2022

According to the report published by GOV UK in September 2023, the estimated R&D tax relief support claims for the 2021 to 2022 tax year was 90,315, an increase of 5% from the previous year primarily due to a rise in claims across SMEs and RDEC schemes. 

The estimated total amount of R&D tax relief support claimed for the 2021 to 2022 tax year was £7.6 billion, an increase of 11% from the previous year. This corresponds to £44.1 billion of R&D expenditure, 8% higher than the previous year.

If your company is spending money advancing science or technology and mitigating the technical uncertainties associated with developing new products, processes, or services, improving existing ones, you may be eligible for the R&D tax credit. The scheme enables companies that have spent money on research and development to claim cash back for the qualifying R&D activities or reduce their corporation tax bill.

Contact us for a free consultation:

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