The recent pandemic has shown that managing cash flow has perhaps never been more important. One valuable area for unlocking cash for companies is the Research & Development (R&D) tax credit system. This is often overlooked and not considered a high enough priority to consider investigating. However, with the benefits that this relief can provide, it is certainly something that should be considered in much more detail during the current climate.
R&D Tax Relief is a government-backed relief designed to encourage companies to engage in R&D activities which advance the current state of science or technology. As well as offering enhanced tax relief on qualifying expenditure, loss making SME companies can surrender the additional tax relief obtained for an immediate repayment from HM Revenue and Customs (HMRC). This repayment can provide an invaluable boost to a company’s cashflow.
With offices in Bury St Edmunds, Colchester and Ipswich, we’re close enough for meetings with clients from all over the East of England. Got something on your mind? We’ll be happy to listen and give you our thoughts.
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