R&D tax credits: A guide for SMEs

Is your business tackling challenging projects, developing new technologies, or improving existing products and services? If so, you could be eligible for generous financial support through R&D tax credits – a government-backed incentive designed to reward UK companies driving innovation forward.

From software development and engineering breakthroughs to process improvements and technical problem-solving, R&D tax credits can offer a cash payment or tax reduction, helping you reinvest in your business and fuel future growth.

In this guide, we’ll break down the new merged R&D scheme introduced in April 2024, highlight what counts as eligible R&D, and share practical tips for maximising your claim. If your business is innovating, now’s the time to turn that effort into a valuable return.