Are you eligible for Research and Development Tax Credits?
Posted by viditagarwal on May 7th, 2018
Research and Development Tax Relief – relief for Corporation Tax
In 2000, the government of UK introduced a valuable government tax relief that rewards small and medium sized enterprises (SMEs) or organisation around the UK for investing in innovation is known as Research and development (R&D) tax relief. This claim can be claimed back if an organisation is legally liable for corporation tax (CT).
There are more than 3000 companies have successfully claimed for R&D tax relief from HMRC since 2000. So the main question is what project should be qualified under R&D tax relief. Many businesses don’t know their criteria to qualify for R&D tax relief. According to HMRC’s there are some following criteria to qualify for R&D tax credits. You will find below some of them:
If your project will qualify for R&D tax relief, then there are a range of costs that can be claimed for:
Both small, large companies and SME’s, from any industry, can be eligible to claim for Research and development tax relief, by providing they meet the research and development criteria. You can read here more about Research and development tax relief from HMRC and Business Rates Relief for Small Business.Also See: Tax Relief, Rd Tax, Development Tax, Tax Credits, Tax, Relief, Research
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