This initiative from the government is designed to reward businesses that lead the way in innovation through valuable tax credits. If your business is improving the way it works through new processes, products and developments, you can claim this benefit.
How do R&D tax credits work?
It doesn’t matter what sector you work in, the scope for research and development is huge. If your business is spending money on any kind of project which is changing, modifying, improving or creating new processes, products or services, you can apply for either a cash payment or business tax reduction. If this is your first claim, you can usually make a claim for your last two completed quarters.
Who can claim and how can I do it?
To make a research and development tax credit claim you must fulfil the following criteria:
No doubt you have many questions about what qualifies as research and development, whether your business is the right kind to claim and the finer details of the scheme. That's why we're here. Simply book a consultation with a member of our team and we can go through it all with you and assist you in making a claim.
