R&D TAX CREDITS
A better way to support your R&D
Introduced in 2000, the UK R&D tax credits scheme allows companies to reduce their corporate tax bill or receive a tax refund based on a proportion of their R&D expenditure. The scheme can be used by any organisation who pays corporate tax in the UK and meets the necessary R&D criteria. It can even be used on unsuccessful projects.
The main objective of the scheme is to increase both the quality and quantity of UK Research and Development, to attract foreign direct investment and encourage continuous investment in domestic R&D activity. Since its inception, the scheme has grown to include both SMEs and large companies; in 2016/17 £3.5 billion was claimed in R&D tax credits by innovative UK businesses.