- R&D Tax Credits: What Are They?
- What qualifies as R&D?
- What expenses may my company claim?
- How far in the past can my company claim costs?
- What costs am I not eligible to claim?
- Which companies are eligible?
- Which initiatives qualify as R&D?
- Do distinct kinds of R&D exist?
- How much should I anticipate receiving?
- How will I get my claim paid?
- How much time does the entire process take?
Do Distinct Kinds Of R&D Exist?
The SME scheme and the RDEC scheme are two distinct tax relief programmes offered by HMRC that are dependent upon the size of your business and whether you use subcontractors or not.
Qualifications
Business with less than 500 employees is eligible for the SME scheme. Small and medium-sized businesses (SMEs) who have been given a grant or subsidy for their R&D project or subcontracted to perform R&D work by a major corporation may also be eligible to claim RDEC.