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R&D Tax Credits for Science and Technology

When people think about research and development (R&D), they tend to conjure up images of scientists and techies. This is one of the many reasons why businesses across multiple industries still don’t believe they qualify for the government’s R&D tax credits scheme and its lucrative rewards.

With the science and technology sector, those visions are more on point. If businesses in the most obscure sectors are making big tax credit claims, then think how much claim potential there is for companies, just like yours, in the world of science and tech.

Despite the government’s R&D tax credits schemee readily rewarding companies for their advancements in science and tech, too many are still drastically underclaiming — or aren’t even claiming at all.

The COVID-19 pandemic has shown the importance of science and innovation. British researchers have been at the forefront of the global effort to find a vaccine and are working hard on a route back to normality.

In a bid to rebuild our economy in a post-pandemic world, the Prime Minister has vowed to turn the UK into a “scientific superpower”.

The pandemic has presented the most significant disruption to our lives and livelihoods for a generation. Yet the government believes this is an opportunity for great reinvention by embracing the power of science, research and innovation — and the key is R&D.

In a future that’s greener, safer, healthier and more resilient than ever before, it’s time for you to get the rewards you truly deserve.

Science and technology projects that may qualify for R&D tax relief include:
  • Improving food shelf life through processing techniques, storage temperature and packaging
  • Developing new methodologies to maximise crop yields
  • Improving drug formulations to reduce side effects, dosage or widen audience
  • Reducing atmospheric pollution by modifying fuel mix
  • Telemonitoring of patients to manage heart disease and strokes
  • Improving efficiency of solar photovoltaic silicon-based cells
  • Developing coatings that adhere to flexible plastics such as soft pvc
 

Key questions on R&D tax relief answered

What activities can be included in a R&D project?

  • Defining technical objectives
  • Identifying uncertainties
  • Feasibility studies, reviewing new and competing technologies
  • Analysing, designing and developing the technology
  • Producing technical specification or other documents to explain and support the R&D project and advancement
  • Testing the product, process, service or software
  • Planning and managing projects
  • Administration, finance and personnel services specifically required to support R&D activities
  • Training to support R&D

What expenditure can be claimed for in a R&D project?

  • Staff Costs – Employee costs (salary, national insurance and employer pension) are apportioned for their time spent on the R&D project plus any reimbursed associated business expenses
  • Software – Purchased for R&D purposes and costs apportioned for any subsequent use
  • Subcontracted R&D – You can claim 65% of what you paid your R&D subcontractor
  • Utilities & Consumables – Water, fuel, power and material used in the project
  • Prototypes – Produced for R&D purposes

About Easy R&D’s R&D tax credit claim process

Claiming R&D tax relief is a niche.

Here at Easy R&D, we’ll probe your company’s activities to reveal the true extent of your company’s R&D.

Averaging £54,000 per claim, we’re a business built around expert tax professionals, skilled technical report writers, and flawless processes to ensure your R&D claims are successful — with maximum return. You could even reduce your corporation tax bill to zero.

HMRC’s criteria for claiming is purposefully broad, so what qualifies may surprise you.

 

Interested in claiming R&D tax credits?