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.
Research and Development is in every sector of business, from Financial Services to Solar power and everything in between…