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R&D Tax Relief

What qualifies for R&D tax relief?

Technology companies that spend money developing new products, processes or services; or enhancing existing ones, are eligible for R&D tax relief. If you’re spending money on your innovation, you can make an R&D tax credit claim to receive either a cash payment and/or Corporation Tax reduction.

Projects in which the company are working to achieve Technological advancement in their industry. The company will have developed or modified a product, process or service, that is more beneficial than anything similar on the market. 

Research and development in tech

What

The Research and Development Tax Relief Scheme is a UK government initiative, created to reward and encourage UK companies to invest in innovation. R&D relief can be claimed by some companies that seek to research or develop an advance in their field. It can even be claimed on unsuccessful projects.

Who

To be eligible, businesses must be UK registered and liable to pay Corporation Tax. SMEs must have under 500 employees and either under £100m or £86m turnover on the balance sheet. Large companies and those SMEs who have received grants or subsidies towards their R&D projects or who are subcontracted by large companies to undertake R&D activities can claim relief under the RDEC scheme.

Why

In reward for the risk-taking innovation (that does not need to have been successful OR completed), companies can claim a Corporation Tax reduction or refund. Tax losses can be converted into a cash tax rebate, based on any qualifying project costs over the last two financial years.

Direct staff costs of people directly involved in the R&D activity

Software and consumable items

Qualifying expenditure on externally provided workers

Subcontractors expenditure

Water, fuel and power

Salaries, bonuses

Employers NIC

Employer pension contributions

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Copyright © 2022 Risecap. All rights reserved.