There are some pretty complex rules about what you can and can't claim for and it's this that puts a lot of companies off getting back what they're owed.
However, with the right help and an eagle's eye for detail, the R&D Tax Relief scheme is the single biggest boost your business can get. Here are a few examples:
- Employee Costs - The people directly working on the project and all associated remuneration. Even if your employees are only partly involved in research and development you can claim for a proportion of their cost.
- Subcontracted R&D Expenditure - If you're an SME, you could claim back a lot of what you're spending on subcontractors for certain R&D activities.
- Software - The cost of the software you need for the project.
- Materials - The actual, physical materials your project uses up.
- Utilities - The water, power and fuels powering your project - although you can't include telecommunications or data costs.