An article with this title has been published in ‘Management Today’ today.
It points out that “Research and development (R&D) tax relief is effectively a subsidy of 25p for every £1 spent on qualifying R&D expenditure for SMEs”.
The take up of this scheme is still not as much as should be expected. “UK businesses are among the most innovative in the world, which makes it surprising that the take up of the R&D tax ‘credit’ scheme remains so low.”, the article observes.
There may be a reason for this. “However, many people incorrectly assume that R&D activity is only carried out by companies with staff in white lab coats. But it is actually a financial reward for technical developments that seek to deliver a substantially improved product, process, device, material and/or service. “ the article says, encouragingly.
Butler, Basford and Lord are ready to help you through the hundreds of pages of regulations so you can claim your due reward – one which could boost your R&D budget by up to 25%. Now that’s worth following up.