Sedulo have produced this infographic to highlight Research and Development (R&D) tax relief, and what it looks like for businesses.
R&D tax relief is designed to assist companies aiming to develop new software and products by reducing their corporation tax bill or providing a repayable tax credit for companies who are not yet making profit.
Since it was launched in the year 2000, 100,000 R&D tax relief claims have been made by UK businesses, accounting for approximately £9.5 billion in reclaimed relief and credits.
However, there are still a number of businesses who undergo numerous projects which could be supported by an R&D claim, but do not make the application.
The infographic, produced by Sedulo explains what qualifies as R&D, who can apply, and how the relief works, while highlighting the true benefits of an R&D claim: