.png)
.png)
Credit where it’s due
KEY POINTS
- Eligibility for R&D relief is through qualifying activities rather than industries.
- The business must be seeking an advance in science or technology.
- Need to identify qualifying projects and the specific activities that contribute to innovation.
- Work by subcontractors can also be eligible.
The government’s research and development (R&D) tax credit incentive was established to encourage innovation in the UK. This principle remains the basis for the tax credits – but many innovative companies are still not claiming them.
For many people ‘research and development’ conjures associations of labcoats and quantum physics. But innovation need not be game-changing or revolutionary and qualifying R&D can be found more widely in various everyday enterprises.
The government’s aim with the tax incentive is to promote private sector investment in innovation. The governing guidelines are deliberately broad...
Alternatively, you can register free of charge to read a limited amount of subscriber content per month.
Once you have registered, you will receive an email directing you back to read this item in full.
