What is an SME scheme?

The UK government offers R&D tax credits as tax relief to encourage small and medium-sized enterprises to invest in research and development activities. The government encourages research and development activities, whether or not you’re making a profit, because they contribute to economic growth, technological advancement, and the progression of society with opportunities for efficiency and sustainability across all industries. So it is safe to say that R&D tax credits allow you to take actions based on your innovative thinking without being held back by cost, ultimately enabling you to expand your business operations by hiring top-notch talent, investing in marketing, offsetting expenses, or acquiring the necessary machinery. Learn more about the SME scheme.