HMRC classifies R&D as a project that seeks to ‘advance science or technology’ and tries to overcome a ‘level of uncertainty’.
Simply put, if your business is taking a risk in trying to develop something that will advance the scientific or technological knowledge in your field, and you have undergone a process of trial and error then you could qualify. This includes:
- New products, services, and processes
- Changes to products, services, and processes
- Project failures or successes
Take the 5 question R&D Tax Relief Quiz