Quite simply, a research and development tax credit is a corporation tax rebate/refund due on any work which is considered to be seen as research and/or development for new products or processes.
Do you qualify?
Often when a business owner sees the words R & D they automatically assume this scheme isn't for them. In reality though you would be amazed at how many companies are carrying out work which would qualify for R&D tax credits. They just don’t realise it!