Centum Tax experts have the extensive experience
and knowledge to help you assess and prepare your R&D claims.
Research and Development (R&D) Tax Credits are a tax break put in place by the UK Government.
The Government allows you to reclaim up to 33% of your R&D costs, even if your project failed.
Essentially SMEs both profitable and loss-making can get back up to 33% of the amount they’ve spent on qualifying R&D. Large companies can get up to 10% of their R&D refunded.
The money is paid as a corporation tax refund, or as a negative corporation tax, after the end of the financial year, tax free, and can be used for anything – hiring more developers, buying equipment, or even paying out dividends.
R&D costs can include: Subcontractor costs, technical analysis, management, testing, prototyping, developing manufacturing processes, software licenses, supporting software/SaaS, and part of hardware costs.