Is my business eligible for R&D tax credits?
What is R&D tax credit and does your business qualify?
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 and/or Corporation Tax reduction.
To benefit from R&D tax incentives, you must:
Be a limited company in the UK that is subject to Corporation Tax.
Have carried out qualifying research and development activities and spent money on these projects.
R&D can take place in any sector. It occurs in everything from cheese-making to chemical engineering, manufacturing, and construction to renewables. If you are developing a product which is new to the market, it is very likely you could qualify.
The average UK SME R&D claim is worth £32,409* so don't miss out on the chance for a valuable cash injection for your business. Find out if your business is eligible by requesting a call back from our R&D tax credits experts.