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Research and Development (R&D) relief is for companies that work on innovative projects within science and technology. It can be claimed by a range of companies that seek to research or develop an advance in their field. To qualify for R&D relief the project does not need to be successful.
Small or medium-sized enterprise (SME) R&D tax relief allows companies to:
(You may need to include linked companies/investments and partnerships when you work out if you’re a SME)
To qualify for R&D relief you will need to cover how your project:
You can claim R&D relief if you research or develop new processes, products or services or improve on an existing one.
You can claim certain costs on the project from the date you start working on it until you develop or discover the advance, or the project is stopped.
You cannot claim R&D tax relief for:
If you would like to know more information about R&D Tax Relief for SMEs and whether you qualify, please contact a member of our team who will be happy to assist. Here at Q Accountants, we provide and cover a spectrum of tax services, including R&D Tax services which is led by our very own R&D Tax Specialist who will assist you throughout the claim process.