The R&D Expenditure Credit (RDEC) is the main incentive for attracting and supporting R&D investment in the UK. In essence, this is designed to make the UK a leader in driving innovation.
A net tax credit of eligible R&D expenditure up to 13%, (until 31/03/2023)/ 20% from 01/04/2023. As a result, this directly reduces corporate tax liability.
A full refund of the credit generated.
A 13% taxable credit is calculated from eligible R&D expenditures.
Furthermore, some of the eligible expenditures are:
Contact us today to find out how FI Group can help you on your R&D journey.