The UK tax system is complicated but research and development (R&D) tax credits can be especially tricky to understand.
That’s partly because what counts as R&D, and what amounts to true innovation, is judged on a case-by-case basis against criteria that can seem almost abstract.
However, that should not deter you from looking at the possibility as the potential amounts available to be returned can be considerable and be a vital source of additional funds following a period of investment.
Trevor Shaw, TC Group Partner and expert in helping business in this area comments that “The R&D tax relief can be hugely beneficial for a large range of businesses and is underutilised. It is not about working in a laboratory but is about solving technical challenges”.
If you would like help in considering or applying for R&D Tax Credits please contact your local partner or email firstname.lastname@example.org