How can I be sure that my project fits the R&D tax credit criteria?
R&D is defined as “seeking an advance in science or technology” by “resolving and uncertainty” in any field, industry or sector. Basically, creating a new process, service or product, or making modifications to improve and exiting process, service or product. There must be the risk of the unknown, the ‘uncertainty’, and it must not be a innovation that is easily found by your ‘competent professionals’.
You may be thinking: I don’t know this is going to work. I’m not sure this is even possible. How can we make this work?
Your project is taking a risk to create an innovation that doesn’t yet exist, or is an improvement on something that has already been produced.