Do I qualify for Innovation Funding?

October 22, 2020

The good news is that 95% of Companies are eligible to claim Innovation Funding, also known as R&D Tax Refunds/Credits. You must be a UK Limited Company that is subject to Corporation Tax and have carried out innovative activities.  

Your project may be creating a new process, product or service or improving an existing one. You will probably be trying to solve a problem where no solution is evident. Whatever your sector is, if your Company is trying to resolve technological uncertainties then you are probably carrying out R&D qualifying activity. Sometimes innovation ideas and activities are not successful, and it is important to remember that if your project is ultimately unsuccessful but tried to find a solution which was not evident at the outset, it could still be classed as innovation.

Small to Medium Enterprises (SME) are able to claim up to 33p for every £1 spent on qualifying innovative activities. The average claim by SMEs in the UK is £60,000. No matter what size your Company is, there is a claim if you are eligible.  

Innovation in Life are specialists in Innovation Funding.  We have extensive experience and expertise in this field and will assist you with the entire process of claiming the Government’s HMRC R&D Tax Credits/Refunds.  We will work closely with you to identify the innovative projects that you are carrying out within your Company and the associated qualifying activity. Our sole focus and attention to detail ensures you benefit from the maximum claim value to fuel your Company’s growth.

Get in touch with us today for a no obligation 15-minute telephone conversation, we would love to hear from you.

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