Which research and development (R&D) activities qualify for tax relief and subsidies?
R&D tax relief can be claimed for a much wider range of activities than most businesses realise. We have experts in claiming subsidies and tax relief for technology research and development costs such as wages, materials, consumables, utilities, hardware, software, prototypes etc. incurred in researching, developing and improving new and existing products, processes or services making them:
- Substantially faster
- Significantly smaller/bigger or with reduced/increased weight
- Capable of operating in extreme conditions
- Significantly reducing cost
- With new materials
- Less dangerous, or
- More environmentally friendly.
The cash back can be 25% or more of the amount spent. There are literally thousands of pounds of government money set aside for technology research and development left unclaimed because technology innovators/start-ups/businesses are not aware, think they are not eligible or think R&D subsidies are just for people in lab coats. Your business must be a limited company, if it's not we can set it up.
You can claim R&D tax relief even if you are a company making a loss and not yet paying tax; the relief therefore acts more like a subsidy and from April 2014 you can recover up to 33% of qualifying costs spent on R&D.
Currently 44% of claims come from software R&D and 33% from manufacturing.
Our experts can also help in claiming the new 10% tax rate for patented inventions and innovations, and advise on what to do to a product to make it patentable.
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