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Claim R&D Tax Credits

R&D Tax Credits and your business

Research and development (R&D) Tax Credits are the most generous and most under-claimed form of corporation tax relief in the UK. Successful claimants may be able to recoup substantial development costs by way of cash or credit for every year in which qualifying R&D activities have occurred.

The Government believes that continued economic advantage and growth in the UK will come from your ability to deliver technological innovation. The R&D tax initiative is designed to encourage firms to invest in the development of innovative products, processes and services, and in so doing, to make the UK more competitive in the global marketplace.

For many businesses, that had simply been absorbing the cost of R&D activity as a commercial cost, the initiative has become an important financial resource which displaces those costs. The latest annual statistics from HMRC show there has been a slight decrease in Northern Ireland companies claiming R&D Tax Credits, which are designed to drive innovation.  Northern Ireland is also still significantly behind many other regions of the UK, compared to regions such as South-East England which secured £660m in R&D tax claims and West Midlands which claimed back £295m.