Also, it is the process involved in the work that count towards eligibility rather than the end result i.e. if a company creates something that looks identical to an existing product on the market, but it used a new or improved method to make it, it would be able to claim through the scheme.
To get an idea of whether your company qualifies to claim R&D Tax Credits, ask the following questions. If the answer to any of these questions is “yes” then it is probably worth exploring whether your company is eligible.
- Have you developed a new or significantly improved product, service or process?
- Has your company implemented a project whether the outcome was not certain because of technical constraints?
- Has your company implemented a project that had unusual or significantly challenging environments, conditions or configurations?
- Do you employ scientists, engineers, architects, software developers or technicians?
- Have you developed any software in-house?
- Have you subcontracted out any of the above?
If you think you could be eligible to claim, please call Rachel at BKS Accounts, who can help you with your claim.
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