Research & Development (R&D) Tax Credits and Grants
ADVISING ON AND APPLYING FOR R&D TAX CREDITS AND GRANTS AND OBTAINING ADVANCE ASSURANCE
The UK R&D tax credits scheme enables companies to reduce their corporation tax liability or receive a tax refund based on a proportion of their R&D expenditure.
To qualify for an R&D claim in the UK, your business must satisfy all of the following criteria:
- be a limited company in the UK, subject to Corporation Tax
- carry out qualifying Research and Development projects
- spend money on these projects
- seek advance(s) of a scientific or technological nature to extend the overall knowledge or capability in a given field (not just for your company’s own state of knowledge or capability)
- your projects must involve uncertainty that competent professionals cannot readily resolve and for which solutions are not common knowledge
R&D work will begin when a project seeks such an advance in science or technology and will end when the uncertain elements of that project have been overcome.