You can claim R&D Tax Relief too.
R&D Tax Relief isn’t something that is going to be on your mind every day! You’ve got long hours, you’re under a lot of pressure and time is precious. It can also be difficult to take a step back and see your day-to-day activities as R&D, not just daily work.
That’s where we can help.
But what is R&D Tax Relief?
R&D tax relief was introduced by the government to incentivise innovation amongst SME UK businesses. Meaning UK companies with under 500 employees and a turnover under €100m, can claim back up to £33 for every £100 spent on Research and Development Projects.
How do I know if I am eligible?
To be eligible to make a claim you need to be meeting these two key criteria points: 1. Making a considerable improvement to existing technology: This does not always mean it is ground-breaking or innovative work. If you are working to make products, services, or processes, faster, less expensive, or better in some way, then this may be eligible for R&D tax relief.
2. Overcoming technological challenges: This is especially where the solution is not immediately obvious to a qualified professional.
Want to know more?
To claim was really straightforward, it only about 1 hour of our time and it was definitely worth it.
If you’d like to find out if your business could be eligible, just get in touch and we can make the introduction to our R&D Partner.