Research and development (R&D tax credits is a valuable government tax relief that rewards UK companies for investing in innovation.

R&D tax credit rates are the equivalent of up to 33p for every £1 of qualifying expenditure. You may be able to claim corporation tax relief if your project meets the government’s definition of R&D.

The work that qualifies for R&D relief must be part of a specific project to make an advance in science or technology. It can’t be an advance within a social science like economics or a theoretical field like pure maths.

The project must relate to your company’s trade - either an existing one, or one that you intend to start up based on the results of the R&D.

To get R&D relief you need to explain how a project:

  • looked for an advance in science and technology
  • had to overcome uncertainty
  • tried to overcome this uncertainty
  • couldn’t be easily worked out by a professional in the field
  • Your project may research or develop a new process, product or service or improve on an existing one.

The average claim made by SMEs in the UK is £53,876 (2016-17), so why not give us a call to get started?