R&D tax credits allow UK limited companies to reduce Corporation Tax or receive a cash repayment for developing new or improved products, software or processes where scientific or technological uncertainty existed. Claims must now follow strict HMRC compliance rules, including advance notification, a detailed technical narrative, an Additional Information Form and correct reporting on the CT600 tax return.

What is tax deductible? Learn which UK business expenses you can claim, what HMRC disallows and how allowable expenses can reduce your taxable profit.