To Infinity and Beyond!
R&D Tax Credits for your work in the space sector, could be the rocket you need to launch your business into the infinite world of innovation!
It is often said that to claim R&D Tax Credits ‘you don’t need to be making the very latest in space technology to be eligible.’ But what if you are making the very latest in space technology? Can you claim? The answer to that question is most likely – yes!
HMRC define R&D as “activities that seek to:
And,
We know that all sounds very ‘jargon-y’, so in the simplest terms, what types of R&D activities in the space industry could be considered eligible?
Think about your current business activities, are you doing any of these things? If you are, is your business currently making an R&D Tax Credit claim?
Even businesses that are conducting grant funded research and development work can be eligible to claim through the RDEC scheme.
When thinking about if your activities are considered R&D from a HMRC perspective, it is crucial you are being advised by an expert – someone who understands your business and technology in order to give you open and honest advice, such as our consultants at TBAT.
If you are already claiming R&D Tax Credits, whether that be through your accountant or through another consultancy, we can review your previous years’ claims to ensure they have been maximised.
Get in touch with us for a FREE consultation with one of our experts to discuss your R&D Tax Credit claim!
When it comes to claiming R&D tax relief, many businesses in design-heavy industries often ask the same question: Can we claim for the cost of acquiring designs? While buying existing designs does not qualify for relief, the good news is that further work to modify, develop or improve those designs often does. If your business is undertaking technical design work as part of an innovation project, there may be significant relief available.
From 1 April 2026, all tax advisers, including those involved in R&D tax claims, must be registered with HMRC and meet new minimum standards to act on behalf of clients. This move is part of HMRC’s drive to raise professional standards, reduce fraud, and improve oversight within the tax advisory industry. Learn who will be affected by these changes and what at your business needs to do to stay compliant.
Assists organisations in accessing research and development grant funding across a range of UK and EU schemes and industry sectors.
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