The Government’s R&D tax relief is one of the biggest funding sources for innovative UK companies, and a recent survey found that R&D tax credits have proven a major boost to British business. However, recent studies show that many businesses are still unaware they can claim the credits to help fund R&D.
Some businesses that we work with have seen the tax break as a way to justify an increased R&D spend, or even an R&D spend at all. The relief helps some companies to move forward with R&D business where financial commitment is uncertain, particularly SME’s. The opportunity to get cash back where no profits exist is also a valuable support for businesses as they look to develop and grow.
If you could like to find out whether you could claim the credits to help fund R&D, call either Andrew Wilson or Jon Kicks on 01788 539000.