What Is R&D Tax Relief?
In 2000, the UK government opted to follow many countries by introducing a Tax Relief scheme for Research & Development activities. The Governments goal has been to drive innovation within the UK and offer a cash injection to support the growth and development of companies of all shapes and industries.
Eligibility for tax relief has been split into two schemes, one for Small & Medium Enterprises, the other for Large companies. For either scheme, a business must be structured as a Limited business and eligible for Corporation Tax.
For an R&D submission, business then have to showcase how they have made a scientific advancement or overcome a technological uncertainty. That's where JJMK come in! Taking a deep dive into your innovation projects and producing a technical narrative to evidence the costs and work that was involved. Our process simplifies the journey for our clients, streamlining an otherwise laborious process.