R&D Tax Credits
What Are They?
Research and Development tax credits are a Government tax incentive designed to encourage UK companies to invest in R&D.
This is additional tax relief which aims to encourage and support innovative projects in science and technology.
A claim may be made by a company that seeks to research or develop an advance in their field, even if the project is aborted or unsuccessful.
There are different types of relief depending on the size of the company. Different schemes apply for small and medium sized enterprises (SMEs) and large companies.
A separate Patent Box relief is available to a company on the profit made from the use of a patented invention.