HOW DO I KNOW IF I AM ELIGIBLE?
R&D tax relief was introduced by the government to support and incentivise innovation amongst small and medium sized UK businesses. Your company can claim cash payments of up to 33% of the costs incurred on activities that are considered eligible and these funds can be used for any purpose including the payment of dividends! All businesses are potentially eligible to claim the relief, provided funds have been spent on developing new or existing products, processes and other technologies.
As a business owner, you won’t necessarily recognise that what you are doing is research and development; it’s just what you do, it’s your bread and butter – don’t rule it out, find out if you are eligible in a 15 minute call.