Research & Development Tax Credits

What are R&D tax credits?

Research and development (R&D) tax credits are a government incentive designed to reward UK companies for investing in innovation. They are a valuable source of cash for business es to invest in Accelerating their R&D, hiring new staff and ultimately growing.

How do R&D tax credits work?

Companies that spend money developing new products, processes or services; or enhancing existing ones, are eligible for R&D tax relief. If you’re spending money on your innovation, you can make an R&D tax credit claim to receive either a cash payment if you are loss making or a Corporation Tax reduction.

The scope for identifying R&D is huge – in fact, it exists in every single sector. And if you’re making a claim for the first time, you can typically claim R&D tax relief for your last two completed accounting periods.
If you can answer yes to these questions, it’s worth exploring the potential of making a claim.

Do you:

  • Employ engineers, scientists or IT personnel?
  • Undertake engineering or software design work / feasibility studies for businesses or your own?
  • Develop, create or improve on products, processes, material, devices, services or systems for other business or your own?

If yes to any of these questions or would like to find out more please contact us.

Back to Specialist Tax


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