Science and Technology

For those working within the Science and Technology industry, you will know that this is a challenging sector that often requires innovative solutions. As R&D activities go hand in hand with innovation, there is a clear link between R&D and Science and Technology.

R&D tax credits for the Science and Technology industry are a great way to mitigate any losses when undertaking innovative and inventive solutions. There are a range of Science and Technology projects that can qualify for R&D tax credit claims, with the most common ones being; working with new or improved materials and new processes and techniques.

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Science and technology projects that may qualify for R&D tax relief include:

  • Use of science & technology to better a process and improve efficiencies;

  • Development of new techniques to enhance processes;

  • Development of new techniques to reduce wastage, or;

  • Use of technology to improve storage facilities, efficiencies of a site, packaging, product deliverance.

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What activities can be included in a R&D project?

  • Overcoming challenges and uncertainties;

  • Designing and making products;

  • Suggesting a more cost effective process;

  • Suggesting a more time efficient process;

  • Time spent researching and development of current projects;

  • Seeking to improve processes, services, materials or devices;

  • Production of prototypes or performance testing;

  • Development of software or IT solutions;

  • Investment in failed projects or developed products that are never launched/used;

  • Efficiency of product, process or service, or;

  • Employing any staff of a highly skilled background or with technical or scientific background.

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What expenditure can be claimed for in a R&D project?

  • Staff Costs – Employee costs (salary, national insurance and employer pension) are apportioned for their time spent on the R&D project plus any reimbursed associated business expenses;

  • Software – Purchased for R&D purposes and costs apportioned for any subsequent use;

  • Subcontracted R&D – You can claim 65% of what you paid your R&D subcontractor;

  • Utilities & Consumables – Water, fuel, power and material used in the project, or;

  • Prototypes – Produced for R&D purposes.

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