Technology & Software R&D Tax Relief
Technology & Software Research & Development Experts
In the 2022 Autumn Statement, Chancellor Jeremy Hunt said he wanted to turn the UK Into the next Silicon Valley! If ever there was an incentive to the tech industry, this, was it. Changes to the R&D Tax Relief schemes coming in for accounting periods starting after 1 April 2023 will see cloud computing costs and data costs being eligible for the first time. So, despite the reduction in the enhanced deduction to 86% of eligible costs from 1 April, the pot of eligible costs for most tech companies will be increasing.
If you are developing any form of ‘Tech, it’s worth a discussion about your potential to claim, not everything will be eligible, but a large proportion of ‘Tech will be.
What sort of projects qualify?
What sort of businesses have you worked with?
Does our project have to succeed?
We have to undertake R&D for some of customer projects, can we still claim?
We offshore/nearshore our R&D, can we still claim?
Book a FREE 15 Minute Call
We’ve found that an initial 15-minute phone call is normally sufficient for us to determine whether there is some potential in a project. Choose a date and time to schedule in your free, no obligation call with our experts.BOOK A FREE CONSULTATION
Does my Business Qualify?
The simplest definition of R&D is when a company looks for an advance in science or technology. This is deliberately broad and it means it can be interpreted to include the development of physical technologies as well as software.
In order to get R&D tax relief for a technology project, you will need to show in your claim that your company looked for an advance, had to overcome an uncertainty, took steps to overcome this uncertainty, and that this work couldn’t have been achieved easily by someone in your industry.
It only takes 15 minutes to find out if you are eligible for R&D Tax Credits – why not book in a call today?
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