Are You Missing Out on Innovation Tax Relief?
But figuring out how much you can claim back in research and development costs can be more difficult than it sounds. Of course, itu2019s a government run scheme, so you must apply to HMRC, which can be a nightmare without proper knowledge and guidance. On the surface, the R&D tax relief claim form seems simple enough to fill out u2013 you already have the information on you! There are two aspects to the application; the technical (what was your project and why was it innovative) and the financial (how much did you spend and why). The financial could be anything, from staff costs and technology costs, to equipment and heating bills u2013 you could get up to a third back in tax relief. The technical... well, weu2019ll leave that up to you.
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