August 1st, 2017.

R&D tax relief isn’t limited to companies doing work in laboratories. In fact, almost any company in any industry is eligible for R&D tax credits, so long as the business is undertaking development activities to seek to achieve an advancement in science or technology. Many businesses are doing this in their day-to-day work, from software development and engineering companies to firms working in food production.

Is your business eligible for R&D tax credits?
Many businesses don’t realise that they qualify for R&D tax credits or that they are not claiming their full entitlement. The R&D tax relief scheme has been in existence for over 15 years and nearly £2 billion per annum is currently being claimed. On average SMEs are claiming £46,000 each per year.

If your company is taking a risk by innovating, improving, or developing a product, process, or service, then you can quality for R&D tax credits. The project must contain a level of technical uncertainty for a competent professional, so if you faced questions that left you and your team scratching their heads to find a solution, that’s a good indication that qualifying R&D activities were taking place.

For the full story at growthbusiness.co.uk CLICK HERE.