Research and development tax relief and tax credits reward companies for taking risks to be at the forefront of their respective sectors. The relief applies to any company in the UK who is pushing the boundaries with their products, designs, processes, systems, devices or methods.

R&D is a complex area and qualifying activity can often be overlooked. The main concept that has to be proven to HMRC is a move forward in knowledge in science and technology across a project. Around 75,000 companies use the R&D system every year, which is around 1.7% of companies registered in the UK.

R&D tax claims are extremely important for business cash flow as the relief can either be a reduction in tax payable or a payable tax credit to help with the trade of the business. Depending on the profitability of the company making the claim R&D is worth between 16.34% - 21.5% of qualifying expenditure.