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Tip of the Week – 28/06/2021

Software Development and R&D Tax Reliefs

Have you been incurring material cost in connection with the software you use in your business? Perhaps you had bespoke software written to solve a particular problem that you face or perhaps you bought software but had to spend money to get it tailored to your particular needs.

If this is the case then you should be asking whether these costs that you have incurred will qualify for R&D tax reliefs, potentially adding a tax deduction of 130% of the cost to the tax reliefs already claimed. And don’t forget you can also apportion some of your wages as part of the claim.

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