Research and Development
Research and Development Facilities
Oxfordshire is home to world-class clusters of excellence in Advanced Engineering, Cryogenics, Life Sciences, Space and Satellite Applications.
These hubs of innovation are leading the way in major collaborative research and development (R&D) projects and have created a unique environment where state-of-the-art publicly funded scientific facilities operate alongside industrial R&D.
International R&D facilities based in Oxfordshire include:
- Diamond Light Source - the UK’s national synchrotron science facility
- Joint European Torus (JET) - Europe’s largest fusion device
- ISIS Pulsed Neutron and Muon Source
- Central Laser Facility.
Funding for R&D
- Innovate UK fund, support and connect innovative businesses to accelerate sustainable economic growth
- KTN connects people to speed up innovation, solve problems and find markets for new ideas.
- SBRI brings together government challenges and ideas from business to create innovative solutions.
- Horizon 2020 is the biggest EU Research and Innovation programme ever with nearly €80 billion of funding available over 7 years (2014 to 2020).
Corporation Tax: R&D Relief
R&D Relief is a Corporation Tax relief that may reduce your company or organisation’s tax bill.
Alternatively, if your company or organisation is small or medium-sized, you may be able to choose to receive a tax credit instead, by way of a cash sum paid by HM Revenue and Customs (HMRC)
Your company or organisation can only claim R&D Relief if it’s liable for Corporation Tax. For more information and to find out if your business is eligible, visit the Gov.uk webpage on R&D Relief.
Advance Assurance for R&D
From November 2015 HM Revenue and Customs (HMRC) are introducing Advance Assurance for companies that claim Research and Development (R&D) tax relief.
If your company carries out R&D for itself or other companies, it could qualify for Advance Assurance. This means that for the first 3 accounting periods of claiming for R&D tax relief, HMRC will allow the claim without further enquiries.
Applying for Advance Assurance is voluntary and you can do this at any time before the first claim for R&D tax relief.
Your company can still apply for R&D tax relief without Advance Assurance. Click here for more information.