Research and Development (R&D) tax credits 


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How do R&D tax credits work?

In the UK companies are able to claim tax relief for their R&D activity. The schemes, for SMEs and larger companies, are both administered by HMRC. Typically SMEs get back up to 33% of the amount they’ve spent on qualifying R&D. RDEC qualifying companies could get more than 10% of their R&D spending refunded.

You can claim R&D relief by entering the total qualifying expenditure on the full Company Tax Return form, CT600. Tax relief is given as either a reduction in the tax liability or, if the company is in losses, a refundable tax credit payable as cash on the amount of qualifying R&D expenditure.

 

What are R&D tax credits?

Research and Development (R&D) tax credits are designed by the government to reward and boost innovation in the UK. They are a valuable injection of cash for any UK business that is investing in their R&D to develop market-leading products, processes, and services. 

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