Those companies that invest in Research and Development (R&D) activities may be eligible for a range of tax incentives.
However, it is important to remember that R&D is not just about people in white coats conducting experiments in laboratories. There is a whole range of activities that qualify for R&D tax relief.
R&D tax relief is sometimes said to be a missed opportunity for smaller companies, which could, on occasion, undertake an innovative scientific or technological project advancing their business, without realising the activity could qualify for relief.
Those seeking to create new manufacturing processes, or methods for solving technical and engineering problems, amongst other activities, may qualify.
However, it is essential that you obtain a clear understanding of the R&D tax relief rules.
Here at BCL Accountants Ltd, we can help you to make use of the most appropriate scheme for your needs, and can advise on a range of matters relating to R&D.
Please contact us today for expert advice and assistance.