Are you innovating in your business?

Could you be eligible for Research & Development Tax Allowance?

You may think that Research and Development is only for science or technology companies. This could not be further from the truth. The technical definition of Research and Development is to ‘resolve scientific or technological uncertainties’.

If your company is looking to solve a current problem using a brand new solution or process that does not currently exist, you could be eligible for Research and Development Tax Credits. This means that if you’re not sure your project is scientifically or technologically possible, or you don’t know how to achieve it in practice, you could be resolving uncertainties and therefore qualify for R&D tax relief.

The best part is that R&D tax credits allow you to claim 230% of the cost of creating new products, processes or services, or changing or modifying existing products, processes or services. The expenses you can claim are;

  • Staffing Costs
  • Subcontracted research and development costs
  • Externally provided workers
  • Consumables
  • Software
  • Payments to subjects of clinical trials

If you have any questions about Research and Development tax credits, contact our team who will be more than happy to assist you.