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Product development often involves solving complex technical challenges, testing new ideas and overcoming uncertainty. Some of this work may qualify for R&D tax relief.
Optima partners with R&D tax specialists Innofund to help clients identify potential qualifying activity and access the appropriate specialist support.
R&D Tax Relief Explained
What are R&D Tax Credits?
The R&D Tax Credit scheme is a UK government incentive introduced in 2000 to promote innovation through research and development. The amount of total R&D tax relief support claimed for the tax year 2023 to 2024 was £7.6 billion.
What May Qualify?
R&D tax relief may be available where a company seeks an advance in science or technology and has to resolve technical uncertainty.
This can include the development of new products, processes or technologies, as well as significant improvements to existing ones. Eligibility depends on the specific technical work undertaken and should always be assessed by a specialist.
Could your project qualify?
You do not need to be a laboratory or software company to carry out qualifying R&D. Eligible activity can occur in engineering, manufacturing, construction, technology and many other sectors.
Projects do not have to succeed to qualify. The important factor is whether the company attempted to overcome genuine scientific or technological uncertainty.
Contact us using the form below to see if we can help.
Unit 20 The Courtyard, Maisies Way The Village, South Normanton, Derbyshire, DE55 2DS
View on Google Maps