Where businesses undertake qualifying expenditure on Research and Development (R&D), they can claim a tax credit under the R&D Expenditure Credit (RDEC) scheme.
For loss-making R&D-intensive SMEs (spending at least 30 per cent of total costs on R&D), this can result in a cash repayment of up to £27 per £100 of qualifying R&D spend, through the Enhanced R&D Intensive Support (ERIS) scheme.
Other businesses, including SMEs that don’t meet the intensity threshold, can typically claim a net benefit of between £15 and £16.20 per £100 of qualifying R&D expenditure, depending on their corporation tax position.
Why not speak to one of our friendly tax team to establish whether the work you are undertaking would qualify for Research and Development relief? With our experience, we can help you to identify qualifying expenditure.