Don’t miss out on R&D tax savings

By James Morris, tax partner, RSM

Accessing funding remains a key priority for many Lancashire business owners. However, many are overlooking the opportunity to gain a cash injection through R&D tax relief and could be missing out on key savings.

As the largest manufacturing region in the UK, we would expect to see a higher volume of claims. However, many organisations don’t realise that they qualify for tax relief or they perceive the process as onerous. The criteria span a broad range of activities which presents a real opportunity to benefit from tax relief no matter what industry or sector. Businesses need to take a step back and question development activity.

Identifying what qualifies can be tricky and drawing on experts to support can significantly help streamline the process. Our in-house team of tax professionals and scientists work with a range of businesses to uncover qualifying activity on a day to- day basis and provide vital technical and scientific advice to progress potential claims – helping to unlock extra cash to strengthen the financial position of clients in Lancashire and across the UK. For the full article from our regular magazine feature 'Lancashire Leaders' please click here.