Research and Development Grants

Additional tax relief is available to small and medium sized businesses in respect of Research and Development (R&D) expenditure.

The R&D relief provides an enhanced 230% deduction from taxable profits for qualifying R&D expenditure.

Where the R&D relief creates a taxable loss, it is possible to claim a refund from HMRC, which is currently at the rate of 14.5%.

Claims for the R&D tax relief can be made on companies corporation tax returns.