Overview of R&D Tax Credits
R&D tax credits are a UK government incentive designed to encourage businesses to invest in innovation. Companies of all sizes and industries can claim these credits if they engage in research and development activities aimed at advancing science or technology. Eligible costs include employee wages, materials, software, and overheads related to R&D projects.The benefits of R&D tax credits can significantly reduce a company’s tax bill or result in a cash payment, offering SMEs up to 33% of qualifying expenditure. This incentive encourages innovation and provides vital financial support to reinvest in future projects and business growth.
Services Provided:
- Eligibility assessment for R&D tax credits
- Claim preparation and submission
- Guidance on qualifying costs (staffing, subcontractors, consumables, software)
- Maximising claims to ensure all eligible activities are covered
- Consultancy for collaborative projects and prototypes