What Are R&D Tax Credits? R&d tax credits is a government incentive that was introduced in the year 2000. It allows companies to claim back on their eligible r&d expenditure through a reduction in tax liability. Cash Injection R&D Tax Credits can provide a vital cash injection to UK Limited Companies of all sizes, to not only continue their eligible activities but to enhance their efforts and enable organic company growth. Boost Innovation and Economic Growthe R&D Tax Credit incentive is designed to boost innovation and improve UK’s innovation. By claiming back for your R&D, it become more of a sustainable business and a more viable operation to run. Companies who regularly carry out R&D as part of day-to-day activities can continue to and enhance their qualifying activities with this added benefit. For every £1 that is spent on R&D related projects, generates a net return of £2.65 for the UK economy. This type of stimulus generates greater benefits for HMRC in terms of economic growth. Increase Competition a leading country in innovation. This incentive encourages UK Limited Companies of all sizes to become more competitive on the world market. Following the decision to leave the EU in recent years, it has become more important than ever for the UK to remain at the forefront of technological and scientific advancements.
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