Research and development tax relief may support qualifying work seeking an advance in science or technology. Developing a new product for your own business is not, by itself, enough to qualify.
How it works
The relevant scheme depends on the accounting period and circumstances. For periods beginning on or after 1 April 2024, the merged R&D expenditure credit scheme and enhanced R&D intensive support replaced the previous schemes. Detailed eligibility and expenditure rules apply.
What to consider
- Keep evidence of the scientific or technological uncertainty and the work undertaken to resolve it.
- Check claim-notification requirements and deadlines early, especially for a first or returning claim.
- Subcontracted work, overseas costs and ownership of the R&D can affect eligibility.
- A claim may be checked or challenged by HMRC; do not plan on a guaranteed refund or processing date.
What to prepare
Project records, technical explanations, staff time and cost evidence, contracts and accounting-period details. A competent technical person should support the explanation of the qualifying work.
Relief may affect tax payable or result in a credit, depending on the scheme and circumstances. We can help establish what financial information is available and whether specialist review is appropriate.
Read the current official guidance. Scheme rules and availability can change.
How Greystone can help
We can help you understand the figures and consider the effect on your business and the family behind it. Where detailed forecasts, calculations or application support are needed, we will agree the scope and any fee with you first.
Explore your next step
Start an enquiry with Swoop, or contact Greystone for a free initial conversation.
The portal opens on Swoop’s website. Swoop can confirm available products and the appropriate specialist route. An enquiry is not a funding offer.
Browse all funding and financial health guides
Prepared by Greystone Advisory using Swoop product information; reviewed October 2026. General information, not a personal recommendation. Greystone is not a lender. Funding is subject to eligibility, assessment and terms. We may receive commission from Swoop following completed funding. Specialist legal, tax or regulated advice may be needed for your circumstances.
