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SME R&D Tax Credit FAQ

What are SME R&D tax credits?

SME R&D tax credits are a government incentive designed to help small and medium-sized enterprises claim back some of the money they’ve invested in research and development (R&D) activities. These credits can significantly reduce your corporation tax or provide a cash refund if your company is loss-making.

How do I know if I qualify for SME R&D tax credits?

To qualify for SME R&D tax credits, your company must have fewer than 500 employees and either an annual turnover below £100 million or a balance sheet total under £86 million. Additionally, your R&D activities must aim to advance science or technology in your industry. Note that connected or partner companies may impact your classification.

My company has been paid by a large company to do R&D, can I still claim?

Yes, SMEs that perform R&D work for large companies may still claim R&D tax credits, but the type of credit available and the amount may vary. When working on subcontracted R&D projects for large businesses, it’s important to clarify the rules to ensure you can claim under the correct scheme.