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R&D Tax Credits in Science and Medicine

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    R&D Tax Credits Calculator

    What is your current financial position?
    Annually, how much do you spend on innovation?

    £ 50,000

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    £12,350

    (This figure may vary depending on your actual reported figures - our R&D tax credit calculator is intended as a guide only.)
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    claims within Science & Medicine

    The sector of science and medication is a goldmine for R&D tax credits. Many laboratories are trying to advance these sectors and create new processes, which in turn has made the industry one of the highest spending on R&D per year.

    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 Science & Medicine?

    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.

    Adapting pre-existing
    drug formulations

    Researching into sustainable materials

    Researching into and developing prototypes

    Developing new software for health professionals

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