Do I qualify for R&D tax credits?
R&D tax relief is a benefit available to companies under the UK tax regime. If your company is attempting to develop or build something new or improved that has technical challenges associated with it, then it may very well qualify for R&D relief.
Your company’s project does not necessarily need to take place in a particular sector or even have a successful outcome but it must have a degree of ‘technological or scientific uncertainty’ that is resolved through your work. I.e. the technical staff either don’t know what the solution is to a particular technical challenge, or how to achieve the solution in practice.
You can claim for projects that has had expenditure in your current financial year and also retrospectively for up to 2 prior years.
Click here to learn more about how to assess your company’s eligibility.