What is R&D?
The definition of R&D for tax purposes extends beyond the traditional understanding of R&D and is broader than many companies realise.
“Research and Development for tax purposes takes place when a project seeks to achieve an advance in science or technology. The work is undertaken on a systematic basis in order to resolve technical or scientific uncertainty and aims to advance the level of knowledge in a particular field of science beyond the level known before the research and development took place.”
Many companies are unaware that non-obvious activities occurring on the broader business areas, such as manufacturing operations and assembly processes, testing and trailing, quality assurance, regulatory certification and business services, can attract eligibility for relief.
Potentially eligible expenditures can include both direct (above) and Qualifying Indirect Activities (QIAs).
Examples of QIAs include:
- Administration and secretarial support
- Recruitment and training
- Finance, and
Make R&D expenditure go further with a SPRK Quarterly Advance
Every £ spent on R&D has an immediate and long-term impact to an SME. By using a SPRK Advance that expenditure can stretch further, resulting in either 20% more generated in R&D spend and an increased refund of 10% or leave you requiring 18% less capital to achieve the same expenditure.
How it works
More R&D expenditure
Less capital required
for the same R&D level
Am I eligible?
Are you a UK business doing R&D?
Does your company conduct R&D to improve existing products and services? Maybe you’re a start-up with a focus on innovation, or R&D is your core business?Yes No
Do you meet the government’s criteria?
You must be a company liable for Corporation tax, have a minimum annual R&D expenditure of £20,000 and conduct at least one activity under the government definition of R&D.Yes No
Great! Let’s start your application.
Getting started with SPRK is easy, and can be done over the phone or right now, online. For more information on the application process please click here.Request a call Apply Online
It’s OK, we can help!
You may not be eligible right now, but our team of experts may be able to help. Let’s arrange a time to chat.Request a call Contact Us
How much of your money could you access?
Don’t wait for your credit. Access it now and stretch every pound up to 20% further.
Calculate your R&D Advance by entering your annual R&D expenditure below
|Tax Credit without SPRK||£-|
|Tax Credit with SPRK |
AFTER all financing costs
|R&D expenditure increase||£- -%|
|R&D tax credit increase||£- -%|
|Expenditure period||1-Jul to 30-Sep||1-Oct to 31-Dec||1-Jan to 31-Mar||1-Apr to 30-Jun|
|Your R&D expenditure||£100,000||£100,000||£100,000||£100,000|