Research & Development
The UK Government introduced Research and Development (R&D) Tax Relief
As an incentive to encourage businesses to carry out innovative 'research and development' activity. It is a way of giving them extra funds to help with the costs involved. The system also helps make the UK attractive to overseas businesses.
Loss making businesses, typically in the start up phase can surrender their losses to receive a cash payment from HMRC provided they make a qualifying R&D claim.
Profitable businesses can claim an enhanced corporation tax deduction provided they make a qualifying R&D claim.
R&D tax credits cover a broad range of businesses, you may be designing a brand new product, producing a new piece of software or simply streamlining the process of getting a product out there. You could claim R&D tax relief if your business meets the following criteria:
- Is subject to UK corporation tax
- Undertakes qualifying R&D activities
How we can help
- We'll start by identifying areas where you are eligible to make a claim.
- We'll then manage the complex application process on your behalf.
- We'll liaise with HMRC to ensure that you receive the correct tax relief due, promptly.