R&D myth busting – what is eligible?

June 26th, 2019

Businesses are missing out on substantial tax savings because they’re unaware of what counts towards a Research and Development (R&D) tax relief claim. Many still wrongly believe that R&D only applies to scientific industries, when in reality, eligible activities can, and do, span a variety of sectors.

Government research looking at R&D claims by industry sector, showed that claims came from businesses in a range of sectors including construction, education, accommodation, food, agriculture and real estate.

Among our success stories, we recently helped Aquaflow Services, whose highly-skilled engineers work across the M25 to deliver innovative drainage solutions for challenging environments 365 days a year. They hadn’t even considered R&D relief, despite having a number of eligible activities. Our advisers identified a £575,000 R&D spend and claimed back £150,000 in tax credits.

Another client, Vision On Design, manufacture and install shop fittings. Once we identified eligible activities across the business, we were able to help them reclaim a significant portion of their wage bill.

Whatever your industry, it’s worth speaking to an adviser to check your eligibility. Whether you work in a lab, or you’re more likely to be found in an office with a spreadsheet or two, remember, you could be eligible for tax relief.

Many companies unknowingly perform R&D tasks on a daily basis. If you’re finding new ways to improve products, processes, quality or efficiency, through advancements in technology or science, then you will qualify for R&D relief.

For more information, contact our lead R&D tax adviser, David Herd, on david.herd@championgroup.co.uk or 0161 703 2500.


BACK TO NEWS PAGE »
Latest News

It’s the big 5-0 for the Champion of a...

July 3rd 2019

Here at Champion, we’ve shown our commitment to development, career progression and upskilling ...

Tax spotlight: Transferring property to ...

July 2nd 2019

Transferring property between spouses is a popular way of maximising rental income. Often, the owne...

Focus
management accounts

HOW WE HELP YOU Our Management Accounts service can be fully tailored to your nee...

corporate finance

Growing through acquisition is an exciting opportunity for your business, but fear o...

SPOTLIGHT ON R&D

Sevron Ltd

MQI Logo marketing1

Innovative software developers, Sevron Ltd, help businesses reduce risk in the workplace by creating specialist Health & Safety software systems.

Our Tweets

Champion Accountants

Growth Protection Core Support Menu
Contact