From a tax perspective, the Research and Development (“R&D”) tax relief for companies investing in business innovation is one of the more opportune measures offered by the UK government to stimulate the economy, a scheme that can offer businesses significant reductions in their tax bills. There are currently two types of scheme in operation - the SME and the large company schemes. Subject to qualifying conditions, companies may claim up to 175% of their annual qualifying spend in their tax returns to be set against their corporation tax bills.