Looking to innovate or scale your business in the UK? There are a number of government-backed incentives designed to help reduce costs and accelerate growth. And many international businesses don’t realise they’re eligible. Here’s a quick look at some of the schemes available.
If your company is investing in innovation, you may qualify for research and development (R&D) tax relief. Put simply, this is a reduction in your corporation tax liability should you be undertaking qualifying activities. This can include costs relating to staff, software, utilities, consumables, and more.
If you’re loss-making, you may be able to claim enhanced deductions on qualifying R&D costs or receive a cash credit. Larger businesses or those in receipt of grants may fall under a separate scheme offering a tax credit. To qualify, your project must seek a scientific or technological advance and involve some level of technical uncertainty.
The UK also offers various grant and funding opportunities, often targeted at specific sectors, regions, or innovation goals. These may come in the form of matched funding, direct grants, or competitive funding rounds. However, it’s important to understand how these interact with tax credits, as some forms of funding may reduce or shift your R&D tax relief eligibility.
With regular changes in funding opportunities, our partners can help you identify which incentives your business may qualify for, structure projects in the most efficient way, and ensure claims are accurate and compliant.