Scottish companies received over £165m in Research & Development (R&D) tax credits last year. Yet, a recent HMRC study found that a number of sectors are still failing to claim, even though they are eligible. R&D tax relief is one of the most generous incentives available. For £100k worth of qualifying expenditure, companies can receive up to:
- £230k worth of enhanced losses (worth £44k @19% tax rate), or
- A £33.35k tax credit (cash in hand)
Dave Philp in our Entrepreneurial Tax Team outlines the sectors that could apply for the relief but traditionally don’t. Find out more here.