R&D tax relief has been around since 2000 and currently falls within The Corporation Tax Act 2009
Government statistics show only 39,960 claims were paid out in 2016-17 (5.5million SME’s)
£3.5bn claimed last year, £21.4bn claimed since inception
SME’s can claim back up to 33% of qualifying expenditure and 11% for larger companies
The benefit can be claimed as either a cash credit straight to your bank account or a reduction in your tax bill depending upon your position at the end of your financial year end.
As many as 65% of SME’s are not aware this incentive exists…