R&D in Scientific and Medical
Innovation in the scientific and medical sector is key to advancing our understanding of the world and raising healthcare standards. Research and development (R&D) tax credits help promote this innovation, encouraging companies to deliver the solutions that ultimately improve our everyday lives and health.
However, many companies involved in scientific and medical R&D do not realise they are eligible for these credits, particularly where they are working as a subcontractor or within the supply chain.
If your company embarks on a project that provides a technological or scientific advancement, and you face a significant degree of difficulty in implementing it, you may well be eligible for R&D tax credits. Examples of scientific and medical R&D that are likely to qualify are shown below.
Examples of eligible activities
- Altering medication to reduce side effects
- Creating a process for more effective sterilisation
- Conducting research into sustainable materials
- Designing and constructing a prototype
- Use technology to create effective testing methods
An optician found patients’ retinal scans were at risk of being lost within its systems or labelled with the wrong information.This had implications for the quality of care provided to patients, as well as creating additional work for staff.
The company overcame the problem by developing a unique system that automatically watermarks the scans with a patient’s number and the date, linking them to healthcare records and creating a backup image in the process.
GET A CALL BACK
If you need to speak to us about a general query fill in the form below and we will call you back within the same working day.
News and Insights
Many companies and businesses believe that you can only claim tax credits for successful R&D projects. We’re here to tell you they’re wrong. Throughout history, scientists and inventor…
A surprisingly high number of entrepreneurs in the food industry are unaware that they can claim R&D tax credit reliefs. Meaning they are missing out on millions of pounds in tax relief. The Food …