R&D tax credits in the spotlight

As highlighted in the recent 2017 Budget announcement, the Government places great importance on their support for innovation in the UK and have stated that they intend making administrative changes to improve certainty around how the rules for Research & Development (R&D) tax relief apply to claims by large businesses, whilst generally seeking to improve awareness of R&D tax credits among SMEs.

This serves as a good reminder to companies trading in industries such as construction, architecture, software development, mechanical engineering, precision and chemical engineering, amongst others, to encourage them to explore the potential R&D relief benefits available to them. R&D can be costly, not only in itself but also in terms of payback which can take months if not years. The UK has some of the most effective, wide ranging tax reliefs available for this type of expenditure and R&D tax credits can go some way in assisting companies to get money back into their ‘coffers’ to finance other parts of the business, if not future R&D costs.

Moore Stephens offers a free consultation call or meeting to establish whether or not businesses are able to benefit from the schemes available. Our team manages the claims from start to finish, including any follow up enquiries, for a fee dependent on the success of the claim. We also offer second opinions on R&D claims already made, with a view to maximising client recoveries.

Since R&D tax credits began in 2000, our team has successfully claimed back around £200m for clients across all business sectors, with a 100% success rate. Our specialist team is distinguished by its experienced engineers, software programmers and scientists, as well as specialist finance professionals, who are able to effectively communicate R&D activities to HM Revenue & Customs increasing the likelihood of a successful claim. Moreover, all of our team are employed by Moore Stephens meaning that confidentiality of underlying intellectual property is safeguarded through the NDA terms within our contract.

Please contact us or visit our website, www.moorestephens.co.uk/rdtax for further information regarding the relief available and our upcoming workshops.


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