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R&D Tax Relief for startups and tech businesses |
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The research and developmment tax relief (R&D tax relief) is one of the most valuable tax reliefs available to a technology / software business. The definition of R&D is also quite broad. It includes new software product and development, and can also have applications in more traditional businesses.
In a nut shell, if your business spends £10,000 on R&D and pays the small company corporation tax rate of 20%, it will be entitled to a reduction in its tax bill of £4,500 (being £10,000 x 2.25 x 20%).
This is of great help to small businesess, particularly startups. If you need some guidance and cost effective help in maximising R&D tax credits for your business then please contact me.
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R&D Tax Relief for startups and tech businesses
