R & D
Research and Development ( R&D) Tax Relief
R&D is a Corporation Tax (CT) tax relief that may reduce your company’s tax liability. This tax relief can only be claimed if your business is a limited company and liable for corporation tax. The way you claim tax relief depends on whether you are a small or medium-sized enterprise or a Large Company. Your company can only claim for R&D tax relief if R&D project seeks to achieve an advance in overall knowledge or capability in a field of science or technology through the resolution of scientific or technological uncertainty – and not simply an advance in its own state of knowledge or capability.
There are other tax reliefs available as well if you are developing video games, films or animated children programmes etc. Contact us today to find out if you are eligible for further tax relief and possibly reduce your corporation tax liability or in some cases you can get some cash back from HMRC, which can be beneficial for your cash flows.