If you are unsure whether you may be eligible to claim R&D tax credits, below are a few short questions to help identify if you qualify. If you answer ‘yes’ (or even ‘unsure’) to any question, you may be eligible to claim.
Within the last 2-3 years…
Have you developed new tools, products or services using technology?
The development of new processes, materials, devices, tools, products or services can be eligible.
Have you tried to improve your existing products through technical changes?
This normally involves making something measurably better e.g. faster, .lighter, greener, smaller, more efficient, stronger, more durable etc.
Have you found more efficient ways to produce your products or services?
You could be eligible for R&D tax credits if you’ve found a way to produce the same product but in a better way (e.g. using fewer resources or less energy).
Have you experimented with new equipment or production techniques?
Experimentation, trials and the development of prototypes suggests that the desired solution is not obvious.
At the start of a project, did you ever think ‘I’m not sure of the best way to do this’?
If there are a number of ways to achieve something but don’t know at the outset which is the best, this can be eligible. (In practice, this normally leads to experimentation!)
Have any of your projects failed for technical reasons?
Your work doesn’t have to be successful to qualify for R&D tax credits! If a project has failed for technical (rather than commercial or managerial) reasons, it may be eligible.
IF YOU HAVE ANSWERED ‘YES’ IN ANY ONE OF THE CATEGORIES ABOVE, YOU MAY ALREADY BE PERFORMING WORK ELIGIBLE FOR R&D TAX CREDITS.
If you would like to speak to us in more detail about how we can help you claim R&D tax credits, please contact Justin Smith direct on 0113 2044228 or email at firstname.lastname@example.org.