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What is R&D tax relief?

R&D tax relief, or tax credits, are a government incentive aimed at rewarding UK businesses that are investing in innovation.

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How does R&D tax relief work?

If you’re spending money on developing new products, processes or services, or making improvements to existing ones, this will be eligible for R&D tax relief. You can choose to receive either a cash payment, or a reduction in your Corporation Tax. If you’re making a claim for the first time, you can typically claim this type of relief for your last two full accounting periods.

What can R&D tax relief be used for?

Once you receive your tax relief, the money is yours to do with what you wish. The majority of businesses that we work with tend to reinvest the money back into the innovation in their business, meaning that their R&D claims continue to increase over time as their business grows.

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What are the benefits of claiming R&D tax relief?

  • Protect and strengthen intellectual property
  • Effectively streamline processes, modernise and automate
  • Reduce overheads and waste
  • Enter and compete in new markets
  • Expand product ranges
  • Drive quality throughout business operations/functions
  • Strengthen supplier partnerships
  • Mitigate the effect of environmental impacts
  • Meet or exceed regulatory requirements or macro-economic forces

Is my business eligible for R&D tax relief?

R&D takes place in almost every single sector within the UK, so there’s a huge chance your business activities are eligible for an R&D tax relief claim.

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