Heydon Innovation LLP
is a firm of Chartered
Tax Advisers

Advisor in Residence
SETsquared Exeter


Heydon Innovation LLP
Companies House No. OC426053
VAT Registration No. 315 9189 84

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THE SME SCHEME

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How does it work?

Under this scheme, qualifying R&D expenditure is enhanced by an additional 130% in the company’s tax computation.

For example, if £100,000 of qualifying expenditure is identified and this has already been included in the company's accounts, an additional deduction of £130,000 can be included in the tax computation.

For a profitable SME, the additional deduction in the tax computation will reduce taxable profits. The company will then benefit from a reduced corporation tax liability.

For a loss-making SME, the additional deduction will increase the company’s taxable loss. The company can then benefit from surrendering the loss for a payable R&D tax credit.

In some cases, an SME may see a combination of the above two benefits.

What is it worth?

The net benefit of the SME scheme depends on the tax position of the company.

A profit-making SME can expect to see an effective benefit of up to 25% (i.e. 25p for every £1 of qualifying R&D expenditure).

A loss-making SME can expect to see an effective benefit of up to 33% (i.e. 33p for every £1 of qualifying R&D expenditure).

Let us help transform your business:

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R&D Tax Relief

A generous tax relief opportunity for innovative and forward thinking companies, creating considerable benefits for shareholders and Directors.

Already Claiming?

The approach taken by advisers differs significantly. This affects the size and accuracy of a claim, along with the time investment required from you.

About Us

We are not what you would expect from 'typical' accountants or tax advisers. Our approach is to keep our ways of working flexible, to fit around our clients.

Heydon Insights

All sectors can qualify for R&D tax relief. From software development to manufacturing. Rocket science to construction. Food and drink to engineering.

Choosing the right adviser will ensure that your claim is maximised and robust. Your adviser should be doing the time-consuming leg work, not you!

If you are already claiming, we are happy to review your most recent claim for free. We may be able to increase the value and/or make the process easier for you.

Contact us to discuss your claim

datumpin highly recommend Heydon Innovation for SME R&D Tax Relief services. They took the time to fully understand our business strategic plan and guide us through the taxation labyrinth resulting in an excellent tax relief application and a successful claim.

We especially value the advice on adjusting our time sheet records for future claims so that we have the management systems in place to maximise our research taxation benefits.

Heydon Innovation gained datumpin the cash equivalent of a new customer contract which has allowed us to invest in future intellectual property, building the long term value of our business.