Research and Development (R&D) tax relief is a government incentive designed to reward companies for investing in innovation.
Tax relief from R&D can be a valuable source of cash for companies to invest in accelerating their research and development of new or existing products and processes or hiring new staff and investing in business growth.
Any company spending money on developing new products, processes, or services – or enhancing existing ones – is eligible to claim R&D tax relief.
For SMEs, R&D tax credits can be a valuable tax relief, and it is important to know that you can claim even if the project has been unsuccessful.
