Definition
Research and Development Tax Relief is a mechanism that can reduce tax liabilities associated with qualifying expenditure on research and development activities.
Human Explanation
It may allow part of the cost of developing new solutions to be recovered through the tax system.
Why it Matters
It can materially reduce the effective cost of innovation activity.
Conceptual Boundary
Its scope depends on the law of the relevant country and may change. This entry does not provide tax advice or current eligibility rules.
Practical Perspective
Eligibility and claims should be checked against current official guidance and, where necessary, with a qualified adviser.