What are R&D Tax Relief / Tax Credits

Technology research may qualify for tax credits

R & D Tax Credits were first introduced in 2000 by the UK government as an incentive to encourage investment in innovative research and development into existing and new technologies.

The program is designed to reward UK companies, through the tax system, who have invested in the research and development of new and innovative products, manufacturing processes or services.

In this existing downturn the UK government recognises that innovation is the key to rebuilding the UK’s economy and therefore the current financial benefit of the scheme can be extremely significant, however the process of submitting a claim is complex with many companies not even realising they are eligible, or their activities qualify for the R&D Tax Credits.