Who can
claim R&D
tax credits?
The Research & Development (R&D) tax incentive is designed to encourage scientific and technological innovation in the UK. It is available to any business subject to UK corporation tax which has spent money on qualifying costs in relation to qualifying R&D projects.
Simply speaking, if your business is taking a risk to innovate, improve, or develop a product, process or service within an area of science or technology, there is a good chance that it will qualify for the R&D tax incentive.
We have significant experience in working with businesses to prepare and submit their R&D claims and pride ourselves in providing every client with a bespoke service tailored to their needs.
The wide range of businesses we have prepared successful R&D claims for include:
Digital, Software and IT
Engineering and Architecture
Pharmaceutical and Biotechnology
Food and Beverage
Manufacturing
Construction
Fintech
The R&D tax incentive provides businesses with either a cash repayment or a corporation tax deduction worth up to c.33% of the qualifying R&D costs identified in their two most recent completed accounting periods.
There is even scope to claim a form of R&D tax relief on the purchase or development of physical assets used in your R&D projects which may not otherwise qualify for tax relief .
Having received other sources of funding towards your business should not ordinarily preclude you from submitting an R&D claim, nor would the fact that you have no fixed record keeping system in place to track the R&D projects and costs.