Research & Development tax reliefs
Research & Development reliefs support companies that work on innovative projects in science and technology. It can be claimed by a range of companies that seek to research or develop an advance in their field.
The relief available depends on the size of the company and if the project has been contracted out or not.
Small and medium sized businesses currently deduct an extra 130% of their qualifying costs from their yearly profit, as well as the normal 100% deduction. This makes the total 230% deduction very attractive.
Companies who are loss making can make a claim worth up to 14.5% of the surrenderable loss.
If you think you could be eligible for this relief, contact a member of the Spirare team and we can appraise this for you.