An SME is defined as a company having less than 500 employees and annual turnover under €100m or gross assets of not more than €86m.
If you are trying to improve existing or create new products, services, or processes and breaking technical ground in doing so, there is a good chance you are doing R&D.
R&D takes place ‘when a project seeks to achieve an advance in science or technology and resolve scientific or technological uncertainty’
Read this article to see what costs can be covered in your claim.
Eligibility for the tax credits relies on a number of factors, read this article to find out more.
The research and development (R&D) tax credit scheme for small and medium sized enterprise (SMEs) was set up to fund and encourage greater innovation in the UK
Small and medium sized enterprise (SME) Research and Development (R&D) tax credit claims provide a super deduction of 230%* on qualifying R&D expenditure.
Your cash benefit is based on whether you are profit making or loss making for tax purposes.