Research & Development Tax Relief

R&D tax credits have the power to transform your business.

Research and development (R&D) tax credits are a government incentive designed to reward UK companies for investing in innovation.

They are a valuable source of cash for businesses to reward advancement and development.

Companies that spend money developing new products, processes or services – or enhancing existing ones – are eligible for R&D tax relief. If you’re spending money on your innovation, you can make an R&D tax credit claim to receive either a cash payment and/or Corporation Tax reduction.

We can help you identify the scope of R&D in your business, helping you to fully benefit the relief you are entitled to. If you’re making a claim for the first time, you can typically claim R&D tax relief for your last two completed accounting periods.

To benefit from R&D tax incentives, you must:

  • Be a limited company in the UK that is subject to Corporation Tax.
  • Have carried out qualifying research and development activities.
  • Have spent money on these projects.

R&D can take place in any sector and Prydis are proud to have partnered with businesses across the spectrum, gaining an excess of £1 million of tax recovered for our clients.

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