If a company’s project falls under the criteria of research and development set by HMRC then it is eligible to reclaim costs spent on innovation, whether in developing something new, or in upgrading existing service, product, or process.
After assessment of the company’s eligibility, the company can claim via the R and D tax credits scheme. There are two R and D tax credits schemes, and companies are can claim R&D tax credits according to the scheme they fall in: