In today’s ever-competitive markets, businesses are continuously doing things differently to stay ahead of the game. Whether they’re improving processes, bringing new products and services to market, increasing efficiencies, or solving problems for customers, businesses are innovating at an unprecedented level.
Such innovation is being actively rewarded by the Government with a tax relief worth up to 230% of qualifying expenditure. R&D tax credits are one of the most valuable opportunities currently available to companies and can provide a tax deduction or cash refund to those that meet HMRC’s guidelines.
At Haines Watts, we’ve been supporting businesses with R&D relief for over 7 years now, and we’re seeing first-hand how much of a positive impact the relief is having. From re-investing into sales, recruitment, and equipment, to improving cash flow or rewarding employees, our clients have made R&D relief work for their business.
With more than double the number of SMEs claiming since 2013, awareness is undoubtedly on the rise. However, there’s still a vast number of companies ignoring the relief or under-claiming due to a lack of understanding and an absence of specialist advice. But we want to change that. We’re here to help you understand R&D and maximise your claim in the process.