Can your company claim R & D Tax Credits?
The scheme was never intended to apply only to Pharma and IT companies. The BIS R & D Scoreboards show an R & D presence amongst
- Construction and Engineering
- Telecoms and Telecom logistics
- Retail Groups
If you can answer ‘Yes’ to the following, you may wish to consider your eligibility further:
- Do you do something innovative which seeks to make a scientific or technological advance – are you developing technology rather than simply using it?
- Has your company tried to develop a system, product or process that, in terms of its competition, is more:
Secure; Accurate; Global; Cheaper; ‘Greener’; Faster; or Lasts longer?
- In doing so, do you seek to resolve uncertainty such as functionality issues in a cutting edge way – is what you set out to do difficult?
- Do you employ specialist staff or subcontractors to do something specific
- Would you consider patents or licences appropriate for your ideas / work
- Are you ‘above’ your competition in a technical way
Claims are feasible under either or both of the ‘Large Company scheme’ and ‘SME scheme. The respective credits are 130% and 225%, the UK envisages funding for RDTR until at least 2018. Having finally heralded the arrival of the UK Patent Box for functionality by 2016, the relief seems here to stay for the medium term.
Useful to know … Partnerships that include a UK corporate partner can benefit from RDTR?