It would surprise you what is eligible for this incentive as it is not all white lab coats. You can claim Research and Development Tax Relief on revenue expenditure, like day-to-day operating expenses. But you usually cannot include capital spending within the R&D tax credit report.
To summarise, you must be able to exhibit to HMRC that the product or process you’re going to include in your claim is truly of innovation, on a technological level, an advancement to your industry standard approach, a project that seeks an advance in science and technology through a level of technical uncertainties or where a solution isn’t readily available by a competent professional in that particular field.
Costs that qualify for R&D Tax Relief
> Staff costs
> Consumable items
> Subcontracting costs
> Externally provided workers
> Software
> Money that was spent during your last two completed financial years on R&D projects.