Research and Development (R&D) credits are a government incentive to support companies that work on innovative projects within the science and technology industry. R&D credits can be claimed by a range of companies that seek to research or develop an advance in their field. It
can even be claimed on unsuccessful projects.

You may be able to claim Corporation Tax relief if your project meets the HMRC definition of R&D too. We’ll be able to look into this for you. If you’re spending money on your innovation, you can make an R&D tax credit claim to receive either a cash payment and/or Corporation Tax
reduction. The scope for identifying R&D is huge. In fact, it exists in every single sector. And if you’re making a claim for the first time, you can typically claim R&D tax relief for your last two completed accounting periods.