In 2017/18 nearly 40,000 claims were made for Research and Development (R&D) tax credits in the UK, almost double the amount of the previous year. Businesses both large and small benefited from £3.5 billion in tax relief from the often-neglected tax credit, which...
It is estimated that over 150,000 UK businesses are missing out on claiming R&D tax relief each year and losing out on thousands of pounds.
Many businesses are transitioning with their clients to IT based products and services to run or deliver a service. This has led to businesses researching & developing more innovative solutions to improve automation, collaboration and services for both staff and clients.
If your business is undertaking the following software projects, you should qualify for R&D tax relief.
The R&D tax relief is valuable for small companies as it saves tax and can result in refunds from HMRC to allow further investment in new products.
The R&D tax initiative works by providing an enhanced additional tax deduction for the costs incurred in undertaking qualifying research and development.
Here at The R&D Co we have experience of working with many clients who employ specialists to undertake the qualifying Research and Development on their behalf.