The Research and Development tax credits scheme is the strongest sign of the UK government's determination to help businesses with big ideas to solve problems, answer important questions and make a real difference. It's a great system, with an average SME claim worth £46,000, but it's just not visible enough. Manufacturing businesses are right on the front lines of R&D in the UK, but far too many of them simply don't know what they're missing.
Building a Better Mousetrap
When people talk about R&D, they're imagining furrowed-browed physicists and pharmaceuticals giants. That's only a small part of the whole picture, and your place in it could be bigger than you think. Briefly, you could have a claim for tax relief if you're:
Finding new ways around your industry's obstacles.
Making life easier or safer for your customers or employees.
Trying out new approaches to the industry's challenges.
Making better use of existing methods and technologies.
The list is by far exhaustive..
What R&D Tax Relief Means for You
The R&D tax relief scheme is about more than just lowering a few business costs. It's about turning your best ideas into real-world benefits for the economy and society as a whole. That's why it's something the government actively wants businesses to claim, and why they're offering so much incentive by:
Cutting your Corporation Tax bill down to size.
Letting you claim a tax credit cash payment.
RIFT Research and Development are the experts in getting the best out of the scheme, so if you're breaking down barriers we'll make sure your efforts are recognised.
R&D for Manufacturing
The manufacturing sector is built on innovation by its very nature, but so much of that inventiveness gets swept under the carpet because it's just part of the daily grind of staying in business. Here are just a few basic types of cost that might qualify for relief:
Finding new, improved materials to work with.
Taking new or existing technologies and applying them in novel ways.
Designing, building and testing prototypes or new production methods.
Moving over to more sustainable or "cleaner" materials, technologies and methods.
Finding new ways to make your products and processes more efficient, more reliable or just plain better.
At RIFT Research and Development, we're as excited as you are to turn the breakthroughs you're working on into real-world success stories. We'll hunt down all your qualifying costs and projects, and work with HMRC to get them rewarded. Our success rate on clients' claims is 100%, so phone or email to get things moving.
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