Research and development (R&D) tax credits are a valuable government tax relief that rewards UK companies for investing in innovation.
Simera will not just be your tech partner to develop & scale your innovative products & services via the web and/or mobile platforms but also offer R & D Tax credits by working with RDP, to offer you an end-to-end solution for the entire GROWTH THROUGH INNOVATION cycle.
If your company is taking a risk by attempting to ‘resolve scientific or technological uncertainties’ then you may be carrying out qualifying activity as per HMRC R&D requirements. This could include:
- Creating new products, processes or services.
- Changing or modifying an existing product, process or service.
This means that if you’re not sure your project is scientifically or technologically possible, or you don’t know how to achieve it in practice, you could be resolving uncertainties and therefore qualify for R&D tax credits.
In a nutshell, we will not just help you bring you game-changing idea for a product or service to fruition but our partnership with RDP will also help you re-invest money back to your business for your innovative product or service by helping you claim up to 33p for every pound spent on R&D which includes the following
- Expenditure on staff including salaries, employer’s NIC and pension contributions.
- Expenditure on subcontractors and freelancers.
- Expenditure on materials and consumables including heat, light and power that are used up or transformed by the R&D process.
- Expenditure on some types of software.