Research Development Tax Reliefs

22nd August, 2018

Companies conducting qualifying development work can claim government backed tax reliefs of up to a third of the associated costs.

It is a common misconception that R&D is only carried out by scientists in white coats, engaged in ‘blue sky’ research. The reality, at least for the purposes of tax relief, is that it is much broader in scope than you might think and extends to almost any industry sector.

The official guidelines on the meaning of the definition of R&D for tax purposes are fairly hefty but fortunately can be distilled into some key criteria against which the activities of a company may be measured to conclude whether or not qualifying R&D has taken place. In particular, the fundamental definition of R&D is re-stated on the next page – the bulk of the guidelines are taken up by further explanation of this definition and the key terms highlighted.

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