{"id":663,"date":"2019-11-27T12:27:14","date_gmt":"2019-11-27T12:27:14","guid":{"rendered":"https:\/\/primal-live.co.uk\/dhco-staging\/?page_id=663"},"modified":"2023-11-29T16:23:01","modified_gmt":"2023-11-29T16:23:01","slug":"research-and-development","status":"publish","type":"page","link":"https:\/\/www.douglashomeandco.co.uk\/services\/tax-planning\/research-and-development\/","title":{"rendered":"Research & Development"},"content":{"rendered":"

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Research & Development<\/strong><\/h2>\n

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Research and Development (R&D) is no longer limited to the scientific industry. Many of our clients across all sectors are now undertaking research and development projects, and often doing so without considering what tax reliefs or planning opportunities arise out of this. We have recently assisted clients with R&D interests in such diverse fields as\u00a0Construction<\/a>,\u00a0Agriculture<\/a>, and Hospitality<\/a>.<\/p>\n

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\n\n\t \n What are R&D tax credits? <\/span>\n<\/span>\n\n \n <\/span>\n <\/span>\n <\/span>\n<\/span>\n<\/h3>\n
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Research and Development tax relief support companies that are innovative within their sector. They must prove that the work they are undertaking is industry-leading. The relief can be claimed for successful and unsuccessful projects.<\/p>\n

R&D projects may create a new process, product or service or improve an existing one.<\/p>\n

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\n\n\t \n How significant are the tax credits? <\/span>\n<\/span>\n\n \n <\/span>\n <\/span>\n <\/span>\n<\/span>\n<\/h3>\n
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Depending on the size of your business and the investment you have made in the project, you may be able to claim up to 33p for every \u00a31 spent on qualifying R&D work. Several costs can be claimed within the R&D tax credit including but not limited to, staff costs, subcontractors, freelancers, materials, consumables and some types of software.<\/p>\n

For expenditure on or after 1 April 2023, there will be a cut in the R&D tax relief to 86% from 130%<\/p>\n

R&D tax credits can be claimed for up to two years before your current accounting period.<\/p>\n

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\n\n\t \n Are you eligible for R&D tax credits? <\/span>\n<\/span>\n\n \n <\/span>\n <\/span>\n <\/span>\n<\/span>\n<\/h3>\n
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The scope for R&D tax credits is vast, a great variety of projects across all industries can qualify for the relief.<\/p>\n