Research and Development (R&D) Cost Collection Template
The government wants to encourage companies to invest in research and development, so it offers additional tax reliefs on the expenditure. R&D credits are a corporation tax relief to encourage innovation and enterprise within the UK economy.
R&D tax relief can be used by companies that are developing new or improved systems, processes, services or products in the areas of technology or science. The R&D project in question must relate to the company’s trade and can be used by an existing company or by new start-ups.
Small or medium-sized enterprise (SME) R&D tax relief allows companies to:
- deduct an extra 130% of their qualifying costs from their yearly profit, as well as the normal 100% deduction, to make a total 230% deduction
- claim a tax credit if the company is loss making, worth up to 14.5% of the surrenderable loss
To claim the relief you need to be a SME and show how your project meets our definition of R&D.
We designed this cost collection spreadsheet template to help you to understand what costs you can claim and cash you can expect to receive from HMRC
Download Cash Flow Template
Cash flow statement is important as it shows how much money Businesses have (or expect to have) in the bank after a given period. It displays where the cash is coming from and going to, and this data can be used to assess where costs can be cut or where expenditure may need to be increased.
Here you record:
- Sales from operations (client paying receivables)
- Investments (changes in assets & liabilities)
- Financing (debt, equity & loans)
It is therefore a bit of a mix between a P&L statement and a Balance Sheet, in that it takes account of cash on hand (assets, also indicated in the balance sheet) but also looks at cash income and expenditure as in P&L (though P&L additionally takes into account expenses incurred but not yet payable). We designed this forecasted Cashflow template to make sure you do not run out of cash and keep control of your finances.