R & D – 2023 / 2024

Calculate your company’s R&D tax credit claim

The R&D tax credit scheme is a government incentive that allows innovative companies to claim tax relief on their R&D costs.

It can be challenging to figure out how much you can claim, particularly with recent changes to the scheme. Use our R&D tax credit calculator for a quick estimate of your potential claim – simply fill in the fields on the right.

Doesn’t matter which accounting period you’re claiming – we’ve got you covered!

Navigating the recent changes in R&D tax credits is difficult, but our R&D tax credit calculator has you covered.

What has changed?

For accounting periods on or after 1 April 2024, the R&D tax relief scheme has changed, consisting of the merged scheme R&D expenditure credit (RDEC) and the enhanced R&D intensive support (ERIS). This change involves rate changes and new rules, affecting the scheme you can claim through and the amount you can claim.

Our R&D tax credit calculator shows rates before and after 1 April 2024. See how your claim changes over time and determine which scheme you can claim for in each accounting period.

Start calculating your R&D tax credits

Select your accounting period

Who are you?

What is your financial position?

What's your estimated annual spend on R&D?

Enter amount for annual spend on R&D staff

What's your estimated total expenditure?

Enter amount for estimated total expenditure

Understanding the transition

  • Before the merge: For accounting periods beginning on April 1, 2023, the traditional rates apply. This means SMEs and large organisations are subject to different schemes, the SME and RDEC schemes, with varying relief rates.
  • After the Merge: Starting with accounting periods beginning on April 1, 2024, a merged scheme comes into effect. This means a standardised rate across company types, with an enhanced rate for R&D-intensive SMEs. The first full accounting period under this new regime will end on March 31, 2025.

Our calculator gives estimates for before and after the merge, helping with planning for the past and future claims. This dual-period functionality ensures you can accurately determine your potential claim value, reflecting the latest scheme changes.

Whether you’re forecasting for the next financial year or looking to claim retrospectively, our R&D tax relief calculator is your essential tool for navigating the updated relief rates.

What is the difference between an SME and a Large Organisation?

  • An SME is a company that has less than 500 staff and either not more than €100 million turnover or €86 gross assets.
  • A large organisation has more than 500 staff and either more than €100 million turnover or €86 gross assets.

What is an R&D-intensive SME?

From 1 April 2023, a loss-making SME that spends 40% or more of its total expenditure on R&D is considered an R&D-intensive SME. This criteria will change from 1 April 2024, where an SME must spend 30% or more of its total expenses on R&D to be classified as an R&D-intensive SME.

An overview of the R&D tax relief rates changing

The table below provides a comprehensive overview of the changes in R&D tax relief rates over time, as announced in recent autumn statements and spring budgets.

SME Scheme RDEC Scheme Merged Scheme
Time scale up to 31/03/2023 From 01/04/2023 up to 31/03/2023 From 01/04/2023 From 01/04/2024
Profit-making SME 130% enhancement = 24.7% net benefit 86% enhancement = 21.5% net benefit NA NA Rate 20% = between 14.7% - 16.2% after tax
Loss-making company R&D costs plus 130% enhancement = 230 x 14.5% rate = 33.4% credit R&D costs plus 86% enhancement = 186 x 10% rate = 18.6% credit NA NA 16.2%
Loss-making SME R&D intensive company NA R&D costs plus 86% uplift = 186% x 14.5% rate = 26.97% NA NA NA
Large company NA NA RDEC rate 13% = 10.5% after tax RDEC rate 20% = Up to 16.2% Up to 16.2%
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