I have been asked that exact question more times than I care to remember so it’s no surprise that only a small proportion of businesses that can claim tax relief actually submit a claim to HMRC.
The truth is the majority of manufacturing businesses regularly inject some element of research and development into their operations. When you take time to understand a business’ operations and ask the appropriate questions, research and development processes that aren’t immediately apparent can often be discovered.
But R&D (Research and Development) tax relief is clearly not just limited to manufacturing. By taking a genuine interest in how our clients' businesses operate we have uncovered R&D processes in somewhat less than obvious places:
I trust this proves categorically that lab coats and test tubes are not a pre-request for a successful R&D tax credits claim! As advisers we have a genuine interest in our clients' businesses and that’s given us the experience and expertise required to identify R&D processes in even the most unusual places. The key message is throw away any preconceptions.
If you think you may have grounds to claim R&D tax relief then please contact me today on 01434 375550 or email email@example.com. I can explain the next steps to finding out if you could be using your own research and development efforts to reduce your business’ tax bill.
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