In the UK companies are able to claim tax relief for their R&D activity as well as for income generated from patents. These government schemes are designed to boost innovation by supporting businesses who seek to improve or overcome technical challenges or uncertainties with their products or processes.

如果your business can tick one of the following, it may be in the right place to receive government support in the form of tax refunds or credits, even cashback:

• Do you design and make new products?

• Do you seek to improve processes, services, materials or devices?

• Do you make prototypes or perform testing?

• Do you develop software or IT solutions?

• Have you invested in failed projects or developed products that are never launched?

• Do you employ any staff with a technical or scientific background?

• Do you have any patents or patents pending from which you have, or expect to generate revenue?

Did you know ….

…. that a loss-making company may receive more cashback than a profitable company?

…. the government paid out more than £3.5bn last year on innovation relief?

…. that a first time claim for a company carrying out R&D is often in six figures?