Statistics from HM Revenue & Customs show that fewer than 1% of UK companies make a claim under the UK’s favourable R&D tax incentive scheme.
There may be a number of reasons for this such as:
- insufficient advancements in science and technology being undertaken by companies. Little or no technical uncertainties being solved (or seeking to be solved). 99% of UK companies applying routine knowledge to achieve their competitive advantage [HIGHLY DOUBTFUL]
- lack of awareness [LIKELY]
- “aware of it but don’t think it applies to my business” [VERY LIKELY]
We urge you to take a second look at the R&D tax scheme as it could benefit your business plus – with average claims currently running at £40,000+ – you would kick yourself if you missed it.
The time is ticking on potential R&D claims for your company as retrospective claims are restricted to those accounting periods ending in the past two years.
Call us for a no obligation initial conversation 0161 961 0096