Maximising Your Tax Reliefs & Incentives
Research and Development
Research and development tax relief is an incentive available to UK limited companies which encourages investment or innovation. R&D tax credits can reduce a company’s tax liability or, if a company is not in profit, provide a payable cash refund.
R&D tax relief for SMEs can be worth up to 43.7% of a company’s R&D expenditure. Claims can be made retrospectively for any R&D activity carried out in the last two years.