R&D tax relief rewards businesses for investing in pursuing something new. This incentive was first announced in the year 2000 to reward innovative companies like yours.

For every £1 used up in an eligible activity, it's possible to recover up to a third of that pound. This means you benefit from up to £33,000.00 back for each £100k invested in an eligible project.  Up to a 100% of peoples wages can be included too so you can see the figures stack-up in your favor quickly.

You may recover between 25% and 33% of your eligible costs back.

For every pound the treasury gives back to a business, they reason they get a further £7 on a multiplier basis.

The truth is, when your small business receives a successful R&D award, you have to pay individuals salaries, and purchase other items that carry duty.  Your staff who contribute to projects also consume goods that carry duty, fuel, cigarettes, alcohol, income tax etc.  It makes sense for the Government to reward your teams effort in pursuing something new.  They win when you do.

That is certainly a case of the Government giving to receive to drive our countries long-established reputation for delivering product and service excellence.  This form of tax relief helps to stimulate the economy.