Government programmes such as innovation and R&D tax incentives are intended to persuade companies to spend money on R&D. The incentives, which frequently take the form of tax breaks or cash grants, are meant to give businesses that are creating new goods, services, or procedures financial support.
R&D TAX BREAKS, ALLOWANCES AND GRANTS FOR INNOVATION
Every company or business should find it simple to choose to take advantage of the UK government’s incentives and grants for R&D. The incentives will either lessen your tax burden or give your business a much-needed cash infusion. There is always a chance to submit or even review any projects or activities with a potential R&D or innovation aspect given the two year deadline for a claim.
Any project or investment that leads to improvements may be eligible for a reward of some kind. The final product or method need not be entirely original. It may be sufficient to invest in a good or service to make it more effective, affordable, or sustainable in order to be eligible for some R&D support. Your business model may depend on the activity, or it may just be an investment in your back-office operations.
MAXIMISING R&D INCENTIVES PROGRAMMES
Getting the appropriate advice is essential for gaining access to these rewards and financial injections. You must be aware of the entire spectrum of R&D endeavours and activities that may be supported by the government. This necessitates in-depth familiarity with the various support sources, their requirements, and application procedures. It also calls for a love of and familiarity with the science and technology fueling innovation in your industry.
FLEXIBLE AND COST EFFECTIVE PRICING
Working with you is done in a straightforward manner. We take the time to fully comprehend your operations and business model. In our experience working with companies like yours, this broad and thorough review enables us to pinpoint every opportunity for obtaining assistance and incentives in the most economical way. We discover all too frequently that companies have lost out on cash payments or tax breaks because they did not include all pertinent costs in their applications.
Additionally, our clients are aware that the potential rewards for you will be reflected in our fees for providing R&D advice. It is always beneficial to discuss your potential R&D incentive with us.
TAX CREDITS, ALLOWANCES AND INNOVATION GRANTS
Through a variety of means, the government supports and rewards R&D and innovation. The incentives come in the form of tax breaks for R&D, including patent boxes and other industry-specific tax reliefs. A variety of grants for innovation and expansion projects are also available to businesses.
On the pages that follow, we’ve provided more detail on the various incentives for innovation and R&D that are available.
You can also get in touch with us, and we’ll get back to you to talk about how we can meet your needs for R&D and innovation.