Regardless of if you are claiming under the SME or RDEC regime, the key requirement to be able to claim R&D tax credits is the ability to demonstrate that your R&D work is looking to advance knowledge by resolving technological or scientific uncertainties. Such uncertainties or advancements must be such that a competent professional in the field can’t readily produce a solution. In addition, the advancements made must be of a nature that may benefit the industry as a whole, not simply your business.
Of course, meeting the eligibility criteria is just one step towards making a claim, with the need to identify qualifying costs (such as staff salaries, pension contributions, raw material costs, etc.) all integral to the value of the claim.
As specialists in this field, R&D Tax Solutions will guide you through the claims process form start to finish and maximise your chances of success.
R&D tax relief does not mean tax breaks for the large pharmaceutical companies only. It can equally apply to any company in any sector, so long as a few key conditions are met.
- There must be a project
- The project must be looking to advance, either in scientific or technological areas
- The solution must not be readily deducible by a competent professional.
Examples can include:
- Integration of the latest technical advancement e.g. into a larger processing plant.
- Technical adaption of materials. E.g. adaptation of standard technology for use in subsea and arctic conditions.
- The design and fabrication of technically improved products.
- Modification to existing processes or systems to improve efficiency, capacity and performance.
- Development of systems and processes.
- Architectural investigations to enable improvements in systems.
- Packaging solutions, e.g. to ehance shelflife of the contents.
- Developments in Food Techolgy and Processing, e.g.
- research into piloting of development samples
- scaling up of newly developed alternatives
- less preservatives, lower salt content, gluten free ingredients.