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The R&D Tax Credits available from HMRC could prove an invaluable cash boost to those companies that are eligible to claim. Read more for how HMRC are responding to the COVID-19 pandemic in relation to R&D Tax Credit claims.
Ian Bolland from Med-Tech Innovation News spoke to Sam Stephens from TBAT Innovation about how manufacturers in life sciences can go about filing an R&D tax credit claim during the Coronavirus pandemic.
At TBAT we’re trying to do everything possible to support our network; interpreting the latest government support packages; pushing through R&D tax credit claims to inject short term cash; developing robust business plans, to ensure that when we come through this a business is in the best position possible.
You’ve submitted your R&D Tax Relief claim to HMRC and you know how much ‘credit’ you’re due to receive. Now you’re thinking, “what’s next? How should you re-invest your R&D Tax Credits?”
Only 2.15% of Small and Medium Enterprises (SMEs) in the East Midlands claimed R&D Tax Relief in Financial Years 2016/17 and 2017/18. There should be 1000’s more making a claim!
Almost all the R&D Tax Credit financial claims handled by TBAT Innovation are accompanied by a technical evidence report. But why?
HMRC Statistics show that just over 2000 businesses in the Construction Industry claimed in excess of £135 million in R&D Tax Relief in the 2017-18 financial year. There are more than 330,000 Construction businesses in the UK – meaning those 2000+ businesses that have claimed, equate to only 0.6% of the UK Construction Industry.
Read our collaborative article with Mathys & Squire in the January/February issue of the Business & Innovation Magazine – What does R&D mean and how can it help to fund your business?
Our team of expert R&D Tax Credit Consultant’s have pulled a ‘Christmas Cracker’ this year and put together a list of their essential Do’s and Don’ts when building an R&D Tax Relief claim. In the Christmas Spirit, we’re delivering them as a ‘Naughty and Nice List’ with added Christmas puns, for your delight!
The latest HMRC Statistics for R&D Tax Credits has highlighted various industry sectors that have high levels of innovation, with low levels of R&D Tax Relief claims; this includes businesses in the Health and Beauty Industry.
Assists organisations in accessing research and development grant funding across a range of UK and EU schemes and industry sectors.
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