Does your company operate in an area where it could claim R&D Tax Credits? According to data from HMRC, small and medium sized businesses could be missing out on thousands of pounds.
HMRC state on their website “Work that advances overall knowledge or capability in a field of science or technology, and projects and activities that help resolve scientific or technological uncertainties, may qualify for R&D relief.”
Although claims for R&D tax credits were up 22% on the previous year in 2015/16, the take-up is still not what it should be. The scheme is under-utilised and too much money is going unclaimed.
Could you claim R&D Tax Credits?
You’ll almost certainly need advice about whether your project qualifies, so why don’t you get in touch with us here at Jones Harris for a no-obligation chat.
A wide range of businesses can claim. You might not expect slipper manufacturers and building contractors to claim R&D tax credits, but they have done in the past. Another less typical (but successful) sector is food and drink suppliers and perhaps more predictably, software designers.
You can find out more before getting in touch for a chat from this guide on the HMRC website.
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