RDS - Sectors - R&D Tax Credits – Pharmaceutical
Research and Development (R&D) tax credits are a significant incentive designed to encourage innovation and technological advancement across various industries, including the pharmaceutical sector. Given the high costs and risks associated with developing new drugs and therapies, R&D tax credits can provide substantial financial relief and support to pharmaceutical companies.
No upfront fee
We only bill when your claim is successful
£55m+
Unlocked for our clients
£7.6bn
Claimed by UK businesses in the 21/22 financial year
In the dynamic and highly competitive pharmaceutical industry, innovation is the lifeblood of progress. The UK government recognizes this and offers a powerful incentive designed to fuel your journey toward ground-breaking discoveries: R&D tax credits.
From discovering new drugs and improving existing therapies to developing innovative drug delivery methods, R&D tax credits provide the financial support necessary to push the boundaries of medical science. These credits enable you to turn visionary ideas into life-saving treatments.
For both SMEs and larger enterprises, the financial benefits of R&D tax credits can be immediate and significant. Enhanced cash flow can fund ongoing R&D projects, enable the hiring of additional talent, or facilitate the acquisition of advanced equipment and technologies, ensuring sustained innovation and growth.
Use our handy R&D tax relief calculator to find out how much you could be claiming back.
Please find below some examples of activities that qualify as R&D expenditure in the Pharmaceutical industry.
Please find what you can include in your R&D tax relief claim.
an element of staff salary costs as well as employer’s NIC & employer pensions costs relating to employees’ time whilst actively engaged in research and development projects.
carried out by third parties on your behalf relating to the R&D.
used directly in R&D including prototyping and concept development costs.
where the software is required to enable the process of R&D.
related in specific proportions to the R&D projects.
where these costs occur in order to enable your R&D to occur.
We have helped businesses across a range of sectors claim R&D tax credits for their innovative work.
MANUFACTURING
CONSTRUCTION
ENGINEERING
TECHNOLOGY & COMMUNICATIONS
AGRICULTURE
FOOD & DRINK
ARCHITECTURE
SCIENCE & MEDICINE
SOFTWARE & IT
AEROSPACE
DEFENCE & MILITARY
PHARMACEUTICAL
An initial phone call or face-to-face meeting is typically the first step, so that one of our Business Development Managers (BDM’s) can discuss potentially qualifying R&D projects with you & explain the activities that can be included within an R&D claim.
Following a successful eligibility check, our team will officially engage with you & request the straightforward financial information required from you and your accountant in order to analyse the R&D costs. A report call / meeting will also be carried out so that a justification report can be created.
Once the claim financials and report have been completed, our team will liaise with you to discuss the final claim and get feedback from you & a confirmation that all eligible activity has been included. Following the review and claim sign off, we will submit the information to your accountant.
One of the benefits of our approach is that we don’t tread on the toes of your accountant by taking over as your ‘agent’ with HMRC. We pass over the completed claim info to your accountant so that they can alter your corporation tax return (CT600) to include the figures, and also attach the report for HMRC.
At R&D Specialists Ltd (RDS), we’re committed to our work, aiming to improve the stature of businesses across the UK with our services. We have a rigorous process that we adhere to when working with business owners to claim their R&D tax credits, only charging a fee if your claim is successful.
If you think you may have an eligible claim & want to talk to us then don’t hesitate, we love to throw around ideas & via a quick initial phone call we’ll give you our honest & experienced opinion.
