Here at Shorts’ Innovation Taxes Group (ITG) our experienced team of tax specialists have helped hundreds of innovative businesses from a wide spectrum of sectors and industries obtain millions of pounds of tax savings via generous government backed Research and Development (R&D) tax reliefs.
Providing an incentive to innovate via the tax system, the reliefs rewards innovative companies that undertake R&D as they seek to make an ‘appreciable’ improvement in science or technology. The relief is generous - a SME incurring £100,000 of costs on qualifying R&D activity could save around £25,000 in Corporation Tax. Cash repayments are also available to loss making companies.
Recent tax savings for clients include;
|Sector / Industry||Tax saving (£)|
|Specialist Marketing company||25k|
|Transport Communication Industry||65k|
|Household Goods Manufacturer||85k|
|Windows and Doors Manufacturer||125k|
|Electronic Design and Manufacturing company||4k|
|Hair Products Industry||4k|
|Household Products Industry||81k|
Here are just a few more examples of the types of R&D activities that our team have claimed R&D tax relief for over the years:
|Sector / Industry||Project||Tax saving (£)|
|Electronics||Manufacture of innovatory display equipment||1m+|
|Software Development||Producing ground breaking new software including writing algorithms||300k+|
|Software Development||Developing new visual entertainment software||£100k+|
|Software Development||Development of software involving intuitive referencing of SQL databases||50k+|
|Steel Heat Treatment||Automating & refining heat treatment processes||200k+|
|Aerospace Manufacturing||Developing products and necessary new tooling for the power and aerospace industries||200k+|
|Chemical Manufacturing||Developing new compounds for the packaging industry||150k+|
|Engineering||Prototype development to satisfy customer requests to modify existing products||c.100k|
|Chemical Testing||Development of methods of testing chemical compounds for customers||c.75k|
|Manufacturing of Animal Feeds||Development of new animal health products||20k+|
|Steel Manufacturing||Developing more efficient manufacturing processes and supporting software||100k+|
|Motorsport||Development of new processes and configurations for motor racing vehicles||c.75k|
|Advanced Design||Development of a ground breaking 3D printing process||10k+|
|Engineering||Development of high performance seating components||100k+|
The ITG team adopt a simple, straightforward and painless approach when working with companies on the preparation of their R&D claims, ensuring that they are compliant with the legislation and maximised as far as possible.
Our skilled and experienced team of R&D specialists can quickly assess the potential eligibility of a business’s development work and scope for a possible claim, before going on to prepare a claim.
Typically our process involves:
We will do most of the work so you don’t have to.
Claiming R&D tax relief is simpler than you may think. So if your business is making an ‘appreciable’ improvement in technology or science, you could join the thousands of innovative companies nationally that have already benefited from R&D tax reliefs.
To discover whether you are eligible to claim, download our eligibility checklist. It takes less than 10 minutes to review.