R&D tax credits can provide a 130% uplifting on qualifying costs and are considered one of the biggest forms of tax relief available to SMEs.
The tax relief is aimed at businesses that can solve problems – you will need to consider if you are making ‘appreciable improvements’ or overcoming technological/scientific uncertainties.
If you’re improving processes, bringing new products and services to market, increasing efficiencies or solving problems for customers, there’s a strong chance you could be eligible for the relief.