Research and development tax credits
You may be eligible for financial incentives in the form of tax credits to help you access research and development (R&D) services from the University of Exeter.
To qualify for R&D tax credits your business must meet certain criteria. If you can answer YES to all the questions below it may be worth seeking further advice from your accountant.
- Are you undertaking a project that seeks to achieve an advance in science or technology through the resolution of scientific or technological uncertainties?
- Can you define clearly the advance you are seeking?
- Can you state why the uncertainties were not able to be resolved by a competent professional?
- Does your project have identifiable start and end dates?
- Does your R&D relate to the current trade or one you intend to start up based on your R&D?
To be entitled to R&D tax credits the work must advance science or technology and the company must be liable to corporation tax.
HMRC Research and Development (R&D) tax credits are the largest single source of Government support for business research and development.