R&D Tax Relief is available for a wide range of innovative activities, for businesses of any size and working in almost any industry. It doesn’t matter if a company is profit or loss making, and there are distinctive schemes designed for both SMEs and larger businesses.
For a project to qualify, it must meet the government’s definition of R&D, broadly speaking:
- It must attempt to achieve an advance or improvement in science and technology.
- It must attempt to overcome a technological or scientific uncertainty.
What industries can qualify?
R&D tax relief can be claimed by companies in almost any industry; however, some of the most prevalent industries for claims include:
- Manufacturing and engineering
- Software and Internet
- Professional, Scientific, and Technological
Is there a minimum expenditure for R&D tax relief?
There is no minimum expenditure for your project to qualify for R&D tax relief, so if you have invested in R&D you can still make a claim subject to eligibility criteria.
How can Radius help?
The Radius team at Shorts has unrivalled expertise when it comes to R&D Tax Relief claims. Our team has led a diverse range of companies, across multiple industries, in submitting robust and compliant claims, while maximising value.
Radius has helped clients save more than £19m in R&D Tax Relief over the last 6 years, with an average claim value of £38k.
What should I read next?
Our blog is full of helpful guidance, case studies and more important information relating to innovation taxes, including R&D Tax Credits and Patent Box.