R&D Tax Credits
What are R&D Tax Credits
The Research and Development (R&D) Tax Credit scheme is an EU initiative that is aimed at small and medium sized enterprises (SME’s), and seeks to recover development costs that companies have invested in innovative product and manufacturing processes. The UK also has a large company scheme.
Over £1.4bn was given back to UK companies in the 2012-2013 tax year, over £9.5bn since the schemes inception in 2000/01. 15,930 companies benefitted in 2012/2013, however 150,000 companies still potentially qualify.
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