If your company is liable for corporation tax, or would be if it were making a profit, you may be able to reduce your tax bill, or receive a refund from HMRC, through the Research and Development tax relief scheme.
Tax relief for qualifying expenditure on Research and Development is incredibly attractive and certainly worth exploring. The process of accessing the generous tax reliefs can, however, seem daunting.
The eligibility criteria are far from straightforward, and there is no room for error when making your claim to HMRC.
Research and development relief is available to any business, which seeks to improve any process – not only businesses employing armies of scientists in white coats!