R&D Tax Credits

In light of the current state of the world, it is, perhaps, more likely than ever that your company has spent money on developing new products, processes or services or even enhancing the way your existing ones work.

If this is the case, you can typically claim tax credits equivalent to up to 33p for every £1 of qualifying expenditure which can then be used as an alternative to innovation grants (or to complement them) to fund your research and development going forward.

R&D tax relief is calculated on your R&D spend and can typically be claimed for the last two completed accounting periods, so you will be able to consider all of your 2020 pandemic-related investments within the current period.

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