The impact of grants on R&D tax credits

Introduced by the UK Government in 2000, the R&D tax relief scheme is designed to encourage innovation and global competitiveness by allowing companies to reclaim some of the money invested in qualifying research and development. R&D tax credits are generally considered to be one of the most attractive tax reliefs available, often resulting in significant cash repayments from HMRC.

In the field of contract research and biotechnology the eligibility of projects for R&D tax relief is rarely in doubt.

From ensuring the safety of new spacecraft and lightweight vehicles to supporting the growth of alternative energy and improving manufacturing efficiency, NDT will play a central role in the industries which drive future economic growth.