For many SMEs, the UK government’s research and development (R&D) tax credit scheme is available to help small businesses invest and progress into the next stage of their development. This is done by offering tax relief on all qualifying R&D projects they’ve undertaken that have resulted in the discovery of something new that helps forward their business.
Despite the scheme having been around for a number of years now, many small businesses are still completely unaware of what it is and how they could be eligible.
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The Lumo Team, LUMO Tax