In the current climate SMEs have to watch every penny, as costs of 
running a business continue to rise. The need for finance has never been higher. Chamber Member Pamela Cunliffe can help when it comes to Tax Relief for your business.
R&D tax relief is a government initiative that rewards UK companies for spending on innovation. Under the SME scheme, companies that spend money developing new products, processes and services, or improving existing ones, are eligible for a Corporation Tax refund/reduction and/or payable Tax Credit. The SME scheme is open to the vast majority of UK limited companies with less than 500 employees.
And yet businesses are still failing to take advantage of the various government initiatives, such as R&D tax credits, whist there has been a marked increase in the number of claims, it still falls short of the government targets set aside.
R&D tax relief is not all about ‘Men in white coats’, it reaches much further than that. Below is a small example of Companies who undertake R&D:
Beauty products; Food & Drink; Engineering; Assembly & Fabrication; Horse Boxes; Chemicals; Trailers; The list goes on and on….
Pamela is always happy to speak with Knowsley Chamber Members about R&D tax relief. To find out more, and see if your company is eligible contact Pamela at p.cunliffe@rndtaxrefunds.co.uk