WHAT IS R&D TAX INCENTIVE, AND WHO CAN CLAIM IT? The R&D tax incentive is a reward for the research and development projects which aim to improve or transform product or process. R&D tax incentive scheme is designed by the UK government, which allows companies who are undertaking risk for bringing advancement in science or […]
The UK government has shifted focus towards research and development from the past few years due to its substantial contribution to the UK economy. To motivate businesses to advance research and development, the UK government initiated HMRC R and D tax credit scheme. The number of companies claiming HMRC R and D tax credits has […]
What is RDEC Scheme? RDEC stands for the Research and Development Expenditure Credit which is a UK government scheme to reward innovative businesses, introduced in 2013. Where SME scheme provides R&D incentives to smaller companies, RDEC scheme renders R&D incentives (R&D Tax Credits & R&D Tax Relief) to larger companies with than 500 staff members, […]
Why is the report submitted to HMRC? HMRC initiated the two schemes of R&D claims: R&D Tax Relief and R&D Tax Credits. These schemes provide businesses working in the field of research and development with a chance to acquire R&D incentives. For R&D Tax Relief and R&D Tax Credits claim innovative businesses are required to […]
The biggest hurdle in R&D claim for R&D Tax Credits or R&D tax relief is HHMRC’s enquiry. As have noticed an increase in HMRC’s enquiry rate to deal with false claims, this blog intends to provide a complete guide to those deserving innovative businesses who are intending to make R&D claims for R&D Tax credits or R&D […]
