Have you ever undertaken the development or improvement of a new product or service? If so, you could be entitled to 230% relief from qualifying Research and Development (R&D) expenditure.
 
For many businesses, R&D is not claimed because of the mistaken belief that you need to invent a product or process that will revolutionise your particular industry sector. The reality is that qualifying expenditure is defined as merely “work undertaken to resolve a technical uncertainty aimed at achieving an advance”.
 
To that end, all that actually needs to be proven is the following;
 

• you are making an advance
• you have overcome uncertainty
• your product/service is unique

Qualifying expenditure within a R&D claim include staff costs, consumables, power, software and subcontractors, and what is even more beneficial to businesses is that a claim can be made retrospectively.
 
Through our team and expert support, we ensure that all qualifying expenditure is identified for our clients to maximise their entitled tax relief. In addition we have the experience on hand to tailor your claim in order to tick all the required boxes with HMRC.
 
So you if would like to learn more about what Research & Development tax relief you could be entitled to, we are here to help.