Ever tried Googling R&D?

Flying the Flag for Export
17th September 2018
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Ever tried Googling R&D?

If you were to Google ‘Research and Development’, you will be introduced to a plethora of scientific research, numerous university research programs and quotes from various scientists and development laboratories. As a result, the overall impression is that all R&D is of the same ilk.

It is, therefore, quite understandable how the everyday improvements that so many businesses are making to new or existing areas of their business can so easily be overlooked. Key decision makers within industries often disqualify themselves without seeking professional advice, and along with the fact that many more do not even recognise that what they do might qualify them for an R&D Tax Rebate; its hardly surprising that the number of claims is still so low.

Those of us who interact with SME’s in any capacity, I would suggest, owe it to them and ourselves to take a second look at any improvements they may make to;

•    A Process
•    A Product
•    A System
•    Any Materials
•    Any Devices
•    Services

 

 

 

As long as some form of science or technology is involved and the project carried a degree of uncertainty, then it is worth investigating with a specialist to see if they qualify for a Tax Credit. Business who are not in profit often still qualify and again they overlook the possibility of claiming and this is so sad, this is legislation and their entitlement.

Next time you come into contact with a small-medium enterprise, take a few minutes to look around or just ask the question, “Do you make improvements to what you do?” You never know you could be the conduit to a significant cash injection that business would really benefit from.Beverly Hopper