R&D tax credits are a key part of the government's strategy to support innovation in the UK. SMEs can claim cash repayments of up to 33.35% of costs relating to an activity or initiative that is considered eligible; boosting cash flow and enabling investment in growth. Eligibility is defined more broadly than you might imagine, and it can include costs incurred in the course of substantially improving existing technologies and processes. For example, if you're developing a bespoke trading platform or CRM system, or if you're re-designing your manufacturing process, you may be eligible! Where your activity or initiative is classed as eligible, your claim will include a wide range of associated costs, including the payroll cost of those involved.
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