Which Activities Qualify?
When people think of R&D, images of pharmaceutical companies developing cutting edge medicines, or engineering firms building highly advanced rockets, spring to mind. But HMRC’s definition of R&D is much broader than most realise.
Put simply, if you’re trying to overcome a problem that you’re not sure how to solve, you may be doing R&D in the eyes of HMRC.
If you’re making a process faster or more efficient, integrating proprietary hardware or software to improve its functionality, attempting to make an existing product in a more cost efficient or environmentally friendly manner, or of course, developing an entirely new product/process, you will likely be eligible to recover the associated costs.