What Qualifies for R&D Tax Credits? | Innovation Plus

What Qualifies for R&D Tax Credits?

What qualifies for R&D Tax Credits is often the first question that is asked about the scheme and with hundreds of pages of legislation, the answer is often not apparent.

The “simple” technical answer is that it is the qualifying costs incurred in the resolution of technological uncertainty needed to achieve a technological advance in a field of science or technology. But to most businesses, applying this to real-world businesses is as clear as mud. Where we bring our expertise to bear is in mapping the dry legislative requirements onto the activities of your business so that you claim everything allowable under the legislation, while not including anything disallowable.

Ask yourself the following questions:

  • Do you employ scientists, engineers, software developers or technicians?
  • Have you developed a new or appreciably improved product or process?
  • Have you developed software in-house?
  • Are you a Small or Medium-sized Enterprise (SME) that has subcontracted out any of the above?

If the answer to any of these questions is ‘yes’, and you are a UK Corporation Tax payer then you could be eligible to claim R&D tax relief.

The benefit can be a cash credit to your business that is worth as much as 33% of your company’s expenditure on Research and Development. In short, if you employ only 4 engineers or software developers performing eligible work at £30,000 each, under the UK R&D Tax Credit scheme you could be entitled to a cheque from HMRC for £40,000 each year.

For further information on how we can help you maximise your claim, call now on 020 3004 9243 or get in touch using the contact form.

Confused about what work qualifies for R&D Tax Relief? Watch our video guide

For further information on how we can help you maximise your claim, call now on 020 3004 9243 or get in touch using the contact form.

How Much?

What's the R&D tax scheme worth to you?

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Do I Qualify?

Am I doing R&D?

What is R&D for tax purposes

How Do I Claim?

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