The UK has a strong history of scientific and technological innovation – despite a low corporation tax rate of 19%. The Government recognises the important contribution that innovation and the exploitation of associated resources can make to economic growth and therefore offer reliefs to UK based businesses to support this. As a result, businesses receive better tax credits and can even claim money back. In particular, companies involved in research and development (also known as R&D) can benefit from a number of tax reliefs.
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