East of England – Could you be missing out on R & D Tax Credits?
The latest report from HM Revenue & Customs (HMRC) has found that East of England businesses are still making good use of the Research and Development (R&D) tax relief or R & D Tax Relief.
Haines Watts East Anglia works with a range of companies and has helped an East Anglian based IT company make a £200k tax saving, a Nutraceutical company £700k, a Construction company over £2million, an architect £445K, a Food Production company nearly £600k, a Plant Hire company £142k and a Technology company £1.4m. These are just a few of the successful claims.
R & D isn’t all about White Coats & Technology
Find out if you can join the 4.310 Small and Medium sized businesses in the East of England who have already claimed R & D Tax Relief in 2017-18.
4.3b in tax relief has been claimed in 2017-2018 throughout the UK. As claims can still be submitted for 2017-2018 the figures mentioned are to date and will increase when further claims are submitted.
Companies with registered addresses in London, the South East and The East of England made up 46% of all claims with 61% of the total amount claimed. Leading industry sectors are the same as previous years with Manufacturing, Professional Scientific and Technical and Information Communication leading the way with claims.
The East of England is well known for its Innovation and Technical expertise and with the Norwich Cambridge Tech Corridor in full swing there are sure to be more and more companies who could claim R & D tax relief. Since the scheme was launched in 2000-01 over 300,000 claims have been made and £26.9bn in tax relief claimed.
So what do you need to do?
If you are in Manufacturing, IT and Communications or Professional Scientific industries and have not given R & D any thought then call us straight away. We will conduct a fact finding style interview with you and let you know if we think a claim will be successful.
Give Haines Watts a call now on 01603 700885 to see if you could make an R & D Tax claim.
To read more about how Haines Watts have helped a range of companies with successful R & D claims visit our Case Study examples here.
Don’t hesitate, get in touch. You don’t have to be in Manufacturing or IT, R & D Tax Claims claims are made from all sectors including Agriculture, Farming, Wholesale and Retail, Health and Social work and a wide range of other sectors.
Contact us now to see if we can help you make a claim. Call us on 01603 700885 or email us at firstname.lastname@example.org.
Want to know more? Call us on 01493 800 800 or email email@example.com