R&D tax credit scheme

What are R&D tax credits?

Research and development (R&D) tax credits are a UK government incentive designed to encourage businesses to invest in a scientific...

16 Oct, 2023 R&D tax credit scheme

What are the different types of R&D tax credit schemes?

As of 1 April 2024, the UK R&D tax relief system consists of two primary forms of support: the merged...

16 Oct, 2023 R&D tax credit scheme

What is the process for switching schemes?

As your business scales up or down, you might not qualify for the same R&D tax credits as before. Changes...

16 Oct, 2023 R&D tax credit scheme

What is a subcontractor in the context of R&D?

Under HMRC’s definition, a subcontractor is an external business or individual that is brought on board to perform specific services...

16 Oct, 2023 R&D tax credit scheme

What is an externally provided worker (EPW)?

EPWs (externally provided workers) are workers who are supplied to a company from an external entity. These workers function similarly...

16 Oct, 2023 R&D tax credit scheme

What are consumable items for R&D tax credit claims purposes?

Consumable items are physical items whose costs can be claimed for R&D tax credits. Examples include water, fuel, power and...

16 Oct, 2023 R&D tax credit scheme

Does making an R&D tax credit claim always have a positive impact on cash flow?

For profitable companies, R&D tax relief will generally have a positive impact on cash flow by reducing the amount of...

16 Oct, 2023 R&D tax credit scheme

What impact does de minimis state aid have on R&D tax credit claims?

De minimis state aid grants refers to a form of state aid provided by the government to businesses, but it...

16 Oct, 2023 R&D tax credit scheme