R&D Tax Credits
What are R&D Tax Credits?
The UK government provides some significant tax incentives for companies undertaking research and development work (R&D). The aim is to encourage investment in R&D, and to make the UK an attractive location for overseas companies to undertake their R&D activities.
You might be surprised
Many companies, particularly small ones, have no idea that what they’re doing could qualify as Research and Development.
HMRC and the Department for Science, Innovation & Technology have issued some guidance on the meaning of R&D for tax purposes.
- HMRC: https://www.gov.uk/guidance/corporation-tax-research-and-development-rd-relief
- Department for Science, Innovation & Technology: https://www.gov.uk/government/publications/guidelines-on-the-meaning-of-research-and-development-for-tax-purposes/meaning-of-research-and-development-for-tax-purposes-guidelines
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