Research & Development. It’s what other companies do. Right? You might be surprised to learn that what you’ve been doing is actually classed as R&D.
Government concern about abuse of SME R&D tax credits has resulted in a cap on the amount of relief that can be claimed in any period. We look at what this could mean for smaller businesses.
Are you missing out on a tax-free payment from the government? R&D tax credits allow you to offset the cost of R&D activity against your tax bill and also receive a cash lump sum on top. If your business is eligible, you could receive a payment from HMRC within 28 days of making a claim.