The R&D Tax Relief for small and medium sized enterprises (SMEs) was introduced in 2000 to encourage UK companies to perform research and development and to promote investment in innovation. The R&D expenditure credit (RDEC) followed in 2002 as a separate initiative to inspire growth and innovation across the UK for large corporations. Both tax credits are vital and important with job growth and providing prosperity. With two separate credits it is very easy for companies to have confusion on which one they qualify for. This page will breakdown the difference between the R&D Tax Relief and the RDEC, outlined by HMRC.
Braithwaite Ireland takes a 7 step approach to maximise every R&D Tax Relief claim filed to HMRC (Detailed description of the 7 step approach).
For further information on how Braithwaite Ireland can assist your company in successfully preparing an R&D Tax Relief claim to HMRC, please contact us today.
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