What is R&D?

ABOUT R&D

What are R&D Tax Incentives?

 

R&D stands for Research and Development, something that every business sector does in order to explore, expand and evolve. 

The majority of businesses that perform R&D in the UK have no idea that they are eligible to claim tax credits. 

R&D Tax Credits are a government incentive designed to encourage innovation across multiple industries. This is an opportunity for businesses to reduce their corporation tax bill or receive a refund from HMRC based upon the number of working hours the business dedicates to research and development.

 

Your R&D Costs Covered

 

Research and development can be expensive. Adopting new technologies and employing specialised staff can become costly. Hence why many company directors are hesitant to invest in innovation. When the costs involved must be paid for upfront and there is no guarantee that the project will even be a success, it can be difficult to move forward.

R&D Tax Credits help you inject money back into your business by refunding costs such as:

Staffing costs

Software

Subcontractors

Materials

Software & IT

We find qualifying R&D expenditure in developing new operating systems or languages

Software & IT

Projects may require bespoke methodology which could be eligible as R&D expenditure
LEARN MORE

Agriculture

Agriculture, forestry & fishing are all now benefiting from new technology, that can be claimed back with through R&D Tax

Agriculture

Qualifying expenditure is apparent in the development of new machinery and components
LEARN MORE

E-commerce & Retail

Any processes or software that are built to actively manage stock and orders could qualify as R&D expenditure

E-commerce & Retail

We find qualifying R&D in the way that retailers and wholesalers are responding to client demand.
LEARN MORE

Manufacturing

Manufacturers benefit from the highest average R&D claim value

Manufacturing

R&D activity stretches from product development, production line speed and resource improvement, quality control and compliance
LEARN MORE

Construction

R&D often leads to an improvement in existing construction techniques to solve environmental issues

Construction

In the construction sector we see companies looking to make technical advances through the resolution of technical uncertainties
LEARN MORE

Science & Healthcare

This is the sector that claims the most in R&D tax relief as these firms are likely to develop & test new products

Science

Scientific R&D, including pharmaceutical and biotech activity, are more obvious examples of businesses that have R&D at the core
LEARN MORE