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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 technological and scientific advancement. They do this by providing financial benefits and tax incentives to eligible businesses that engage in R&D activities. 

These credits typically cover the expenses related to research and development such as: 

  • Staff pay costs
  • Supplies and equipment
  • Subcontractor payments

Prior to April 1st 2024 the R&D initiative consisted of two main schemes: the SME scheme and RDEC. (Research and Development Expenditure Credit)

If a company’s accounting period begins before or after April 1st 2024, then their R&D tax credit claim falls under the new merged scheme, which was formed to simplify the process.

Other Topics

Accounting and finance Eligibility criteria HMRC enquiries Qualifying expenditure R&D tax credit scheme RDEC scheme SME scheme The claim process The outcome

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Our hassle-free and streamlined process is waiting for you to get started and to make you feel confident throughout your R&D claim application.
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