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What costs qualify for Research and Development relief?

The HMRC definition is –

“The advance in science and technology must involve resolution of a scientific or technological uncertainty”

  • Staffing costs and agency workers for the time spent directly or indirectly on R & D.
  • Consumable items including power and water costs, software used for Research and Development.
  • Prototype costs/scrapped work.
  • Certain payments to sub-contractors.

Most people think this means men in white coats with microscopes.  The reality is that R&D activity is something that requires significant brain power and expertise and is usually about solving industry or sector wide problems, such as making products, services or processes substantially faster, significantly reducing costs or using new material. It is important to realise that even abortive, failed projects can qualify for tax rebates.

We can explain more at an initial meeting.

Your Company could claim a Research and Development tax credit cash benefit if it has been:

  • Developing software
  • Designing, producing or changing products
  • Changing its manufacturing processes
  • Currently working on development projects that are still ongoing  work in progress
  • Changing to become more environmentally friendly
  • Improving all the systems and procedures to inform the finished product/service to your customers

To find out how we can help

Call Bill Loryman: 01327 340 408

or Email us

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