No, universities are not eligible for R&D Tax Credits. HMRC has stated unequivocally that universities will not be able to claim R&D Tax Credits under the SME or RDEC scheme. According to the government, this is to ensure that the scheme remains effective and well targeted to Research and Development by companies, startups and businesses. Also, universities don’t pay the same taxes as private limited companies.
Knowing what costs qualify for tax credit is key to filing a R&D tax credit claim. Our R&D tax consultants will help you determine the list of qualifying costs you should consider in filing for R&D tax credits.