Research and Development (R&D) Relief is a Corporation Tax relief that may reduce the company's tax bill or, in certain circumstances, generate a loss which may be surrendered in exchange for refundable tax credit.
There are two schemes available with differing rates of relief, depending on the size of your business.
Qualifying R&D Projects
R&D Relief is available if an R&D project ‘’seeks to achieve an advance in overall knowledge or capability in a field of science or technology through the resolution of scientific or technological uncertainty - and not simply an advance in its own state of knowledge or capability’’.
This is a very broad definition and can encompass a wide range of activities, including those which may not appear to be research and development.
We Can Help You
At Rothmans we have extensive experience of R&D claims across a number of industries including military robotics, the motor industry, printing, farming and the construction industry.
If you think that your business may qualify for additional relief please contact us so that we can assist in maximising your claim.