Product Description:
To satisfy the eligibility requirements for R&D Tax Credits, you must:
Be a UK Limited company, and liable to pay Corporation Tax;
Have traded for at least 12 months;
Have carried out qualifying research and development activities;
Have incurred expenditure on those projects; and
Have borne the financial risk in the event of project failure
You can recover up to 33% of your development costs invested in innovation and advances in product, process and software development.
Area of Expertise:
R&D Tax Credits are designed to reward companies for their efforts in innovation to develop new or improve existing products, processes and systems.
Capital Allowances and R&D Allowances enable companies to claim back tax relief on capital expenditure, such as property acquisition, plant and machinery, refurbishments, alterations and extensions.
Patent Box is a Government initiative launched to promote investment in intellectual property by enabling companies to pay a reduced Corporation Tax rate of 10% on profits derived from patented products and/or processes.