Capital Allowance
Research & Development (R&D) tax relief is the government’s way of rewarding business that invest in innovation. Whether you are developing something new, or improving something that already exists there is a potential claim for your business.
These solutions have to an aspect of uniqueness to them and must be something that can’t be bought off the shelf.
The business can claim back up to two financial years of any research and development projects.
There is no limit to the amount that can be claimed back, and many business costs you may not associate with R&D form the backbone of these claims.
These include wages, travel, sub-contractor, materials and business premises costs.