R&D In Information Technology And Software
Having regard for one of the industries that thrives on rapid changes and advancements also sees it enjoying the benefits of R&D Tax Relief scheme.
During the 2018-19 tax year, a significant portion of the scheme paid out over £1bn in relief either in the form of a credit or reduction in the corporation tax bill.
The ICT sector is seen as one of the largest benefactors where approximately 23 % of the tax relief claims are distributed.
By way of a loose example, we have seen software development houses make significant progress and advancements by overcoming uncertainties which may have required the software to be improved by writing a significant amount of code. Typically, it’s not the ‘’What’’ but more focused on the ‘’How’’ that demonstrates strong areas of research and development.
The associated expenditure of improving this code example could see it qualifying as R&D.
We have seen a wide variety of software companies benefit from the R&D Tax relief where costs associated but not necessarily limited to:
Staff | Subcontractors | Consumables | Software Used | Prototyping
Instead of guessing if your business is eligible, rather let Available Grants work with you to find out if there’s a potential claim. We work on a No-Win No-Fee basis, so let’s arrange an eligibility call with one of our R&D Tax specialists now.