Shorts Chartered Accountants
Shorts are not your average accountancy firm. We’re a team of specialists all pulling in the same direction. With a long-standing heritage of 130 years, we’ve grown from a local business to a nationally recognised award-winning firm.
We’re home to some incredible expertise – specialists from some of the world’s leading firms, bringing years of experience that they have shared and continue to hone.
Our services and expertise are outstanding – they have earned us the reputation we’re so proud of. We provide all the services you would expect from the region’s leading accountants but what makes our work exceptional, is the way we seamlessly blend this expertise across all our services.
Our ambition to become the leading firm in our region, defines who we are and underpins everything we do. And our reputation has grown on trust, through the enduring relationships built with clients who have worked with us for generations.
Today, we’re recognised as an award-winning, leading regional firm, that’s not just delivering, but that innovates; using deep knowledge, technology, and expertise to find new ways to make our clients’ business better and their personal finances stronger.
Radius by Shorts – helping chamber members understand R&D Tax Relief rules, maximise their claims, and minimise disputes with HMRC
Chamber members may be familiar with the government’s R&D Tax Relief scheme, an incentive program offering innovative companies Corporation Tax relief of up to £15,000 for every £100,000 spent on R&D*.
|
Company situation |
Net relief available |
|
Profitable companies |
15% net relief (equals £15,000 for every £100,000 spent on R&D) |
|
Loss-making companies of those that make <£50k in profits. |
16.2% net relief |
|
R&D-intensive companies |
Up to 26.97% net relief (based on the credit rate) |
*Rates apply for periods beginning on/after 1 April 2024. Relief is worth slightly more prior to this.
In a continuing and intensive effort to crack down on fraud and error in claims, HMRC has merged the SME scheme into a simpler RDEC scheme and made mandatory more detailed supporting documentation.
This means that while the benefits for qualifying businesses are still generous, there is far more scrutiny from HMRC now, which means it has never been more important to ensure R&D Tax Relief claims are robust and done properly.
Support for Chamber members
Chamber members who conduct R&D projects or are not sure if their innovative projects would qualify, are encouraged to contact the Radius team at Shorts Chartered Accountants, a team of qualified, dedicated specialists in R&D and associated incentives like Patent Box.
The Shorts team can help you in several ways, including:
- Accurately assessing your company’s eligibility for R&D Tax Reliefs and Patent Box.
- Helping you understand the differences between old and new schemes, including the new merged RDEC scheme introduced in 2024.
- Ensuring your claims are robust and fully compliant before submission to HMRC.
- Assisting with procurement and checking of all required documents, including the new “Additional Information” form.
- We can also offer support in resolving issues for companies with existing or historical claims under investigation by HMRC.
The Radius team includes a former HMRC R&D tax inspector with unrivalled knowledge of the scheme's benefits and challenges.
