R&D Tax Credits in Electrical Engineering

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    claims within Electrical Engineering

    If you are a limited company based in the UK that is involved in Electrical Engineering, there is a strong chance that you qualify for research and development tax credits.

    Research & development is all about seeking to overcome an uncertainty – whether you are missing the blueprints (the Research), the method (the Development) or both, the money and time that you put into this work can be claimed back. HMRC wants to push and reward anyone willing to take the risk of providing something innovative that isn’t certain to be a success.

    Get in touch today for a free, no-obligation consultation with one of our specialists to find out what activities your business conducts which may qualify you for R&D tax relief.

    R&D tax credits are a government incentive designed to encourage innovation across multiple industries. This is an opportunity for you to reduce your corporation tax bill or receive a refund from HMRC based on the number of working hours your business dedicates to Research & Development.

    SME’s can claim back a significant percentage of the costs associated with R&D. That’s up to 27p back for every £1 spent on qualifying R&D activities. To get an idea of how much you could be refunded, check out our handy online calculator.

    What are examples of claimable projects within Electrical Engineering?

    The R&D tax credit scheme was introduced to reward UK businesses tackling scientific or technological uncertainties within their industry. With this being such a broad description of eligible R&D, we have listed a few handy examples of eligible projects to help familiarise you with what type of projects can qualify.

    Designing control systems

    Creating telecom systems

    Creating innovative fire control systems

    Researching new uses for materials

    Developing safer methods and practices

    If you are in the sector of Electrical Engineering and have been involved in creating a unique process, resolving an uncertainty, or anything else which you suspect may qualify due to being an innovation, we urge you to get into contact with us so that we can help you with your claim!

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