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R & D Tax Credits

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 which enable businesses to accelerate their R&D, hire new staff and, ultimately, to scale their operations.

How It Works

Companies are eligible for R&D tax relief if they spend money developing new products, processes or services – or if they do so enhancing existing ones.

Any organization that spends money on innovation can make an R&D tax credit claim to receive either Corporation Tax reduction and/or a cash payment.

The R&D in question is not restricted to specific market sectors and as such the scope for companies to apply is enormous. Moreover, companies making a claim for the first time can usually claim R&D tax relief for their last two completed accounting periods.

At ICS, we have experience in this field and we can assist you in framing your application for R&D tax relief.

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