R&D Tax Credits

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What are R&D Tax Credits?

Research and development (R&D) tax credits are a government incentive designed to reward UK companies for investing in innovation. They are a valuable source of relief or cash for businesses to ultimately invest in growth – for example hiring new staff - and accelerating their existing R&D.

How do R&D Tax Credits Work?

Whatever sector you are in, if you’re a UK business and are spending money on developing new products, processes or services, or even enhancing existing ones, you most likely are eligible to make a R&D Tax Credit Claim. This can be in the form of money off your existing corporation tax bill, or a cash lump sum payment.

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As a chartered accountancy firm with sector specific experience, we can advise, draft and submit a robust R&D claim that meets HMRC’s standards and expectations, as well as deal with any potential enquiry into your claim should the need arise.

To find out how your business can benefit from R&D Tax Credits, please contact Connected Accounting today