RESEARCH & DEVELOPMENT TAX RELIEF
What is research and development tax relief?
Research & Development (R&D) tax relief is a government incentive designed to encourage innovation and technological advancement within businesses.
It offers companies a way to recoup a portion of their R&D expenses by reducing their tax liability.
If a company is investing in projects that seek to advance science or technology through the resolution of scientific or technological uncertainties, they may be eligible for this relief.
By claiming R&D tax relief, businesses can reinvest those funds back into their R&D efforts, fueling further innovation and growth.
Be aware of the time limits
There are time limits involved in the R&D tax relief claim. We will manage the whole process, ensuring you keep to the time limits, but also identify if there are any opportunities to file a claim frrom a prior year.
Tax Relief on Qualifying Spend
In the UK, eligible costs for Research & Development (R&D) tax relief claims typically include:
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- employee costs
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- subcontractor costs
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- consumables
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- software
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- prototyping and trial costs
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- expenditure on R&D-related assets
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However, it's not to say that all spend in your business will qualify. The application to HMRC requires detailed calculations on HMRC's and a report using HMRC's dedicated process. We manage that whole process for you.