R&D tax relief

Funding your ambition

Companies looking to make the next big breakthrough in sciences and technology can make the most out of the Government’s research and development (R&D) tax credit scheme.

Not only can these credits be claimed on successful projects, but failed ones also. Before deciding on whether to apply for R&D tax credits, you’ll have to understand the difference between the two schemes.

Here’s where we come in. Artisan can help you decide which of the two schemes you may be eligible for.

The first scheme is known as the SME R&D scheme. Your company will be able to claim this if:

• you have less than 500 staff
• a turnover of under 100m euros.

The SME scheme varies from the research and development expenditure credit scheme (RDEC). RDEC can be claimed by large companies carrying out R&D or even by SMEs and large companies who are subcontracted to do R&D work.

As of April 2023 SMEs will be able to recover up to 10% of their qualifying costs. Some of these costs could include

• staff salaries and wages
• materials and prototypes
• software and cloud computing
• utilities