If my project is unsuccessful, do I still qualify for innovation funding?

April 29, 2021

If you are working on a project to create a new process, product or service or improving an existing one, chances are you are carrying out R&D.  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 R&D is 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 R&D and you could still qualify for innovation funding.

 Small to Medium Enterprises (SME) can claim up to 33p for every £1 spent on qualifying R&D 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 Research & Development(R&D) and have extensive experience and expertise in this field.   We 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 R&D 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.

 Give us a call today on 020 4511 5511for a 15-minute no obligation telephone conversation, so we can highlight areas of qualifying activity and the potential value of your claim.

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