- 2nd September 2014
- Exhibitor Announcements, Manufacturing, Northern
- North14
Manufacturing companies missing out on R&D tax claim initiative
Visitors to this year’s Northern Manufacturing Exhibition can find out more about claiming enhanced R&D tax relief, an HMRC initiative set-up to encourage UK Manufacturing businesses to be more innovative. R&D Tax Claims Limited believes that many manufacturers are missing out on the opportunity to claw back tax reclaims against their corporation tax.
At the recent opening of the new office in Warrington, Mark Evans, Managing Director R&D Tax Claims, explained, "For SMEs, nationally, take up of the initiative was 30% higher last financial year compared to the year before. This increase is promising but we know from our experience that it’s just scraping the surface.
"Many SMEs are cautious about taking the initiative anywhere beyond an end of year discussion with the accountant. Perceptions exist, which cause hesitation to proceed including the time required to complete the process and, potentially the biggest myth of all, the risk that HMRC enquiries create unnecessary difficulties. In reclaiming over £16M for UK companies since the initiative was introduced and with 100% success rate I can confirm that providing the process is understood then it’s very straight-forward. HMRC wants and encourages SMEs to take the initiative and R&D Tax Claims is happy to work with its clients’ accountants to take the load and speed up the process."
Mark Evans’ Team consists of consultants with manufacturing and engineering backgrounds. "The Team is solely focused on R&D tax relief for SMEs and we’ll be delighted to enlighten exhibition visitors on the process we follow to ensure a smooth reclaim passage for our clients."
Visit R&D Tax Claims on stand M61 or go to www.rdtaxclaims.co.uk