Research and development tax credits
R&D 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.
You can calculate the amount of tax credit you may be entitled to using an R&D tax credit calculator.
There are numerous research and development relief schemes. The following resources provide more information:
- Research and development tax relief for small to medium sized enterprises
- Research and development expenditure credit
- The HMRC website also has further information on R&D tax credits
HMRC Research and Development (R&D) tax credits are the largest single source of Government support for business research and development.