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).

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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

HMRC’s most recent ‘R&D Tax Credit Statistics’ show that the average claim for an SME is over £50,000.

Many business owners are incorrectly advised that their company does not qualify for R&D tax relief.

We will not sign you into a long-term contract. We prefer that you continue to work with us out of choice, based on the excellent service that we provide.

Contact us to discuss your claim

We were delighted that Heydon Innovation was able to help us with our R&D tax credit claim. It was very important to us that the claim was considered in its completion. Heydon Innovation approached this both professionally, and most importantly with the highest standards of ethics.

Not only did I learn a great deal, but also the guidance and assistance I received, particularly in view of the tight timeline, was exactly the high standards that we always aim to deliver to our own clients.