Manufacturing R&D Tax Credit Growth Fund
Manufacturing companies across the UK are making use of the R&D tax credit scheme, designed to reward businesses for their investment in innovation projects. This government manufacturing grant is supporting SME manufacturers to aid business growth and re-invest in further qualifying R&D activities.
R&D stands for research and development, and was created as business support to those that are designing and developing new processes & products; such as machinery and equipment, and formulas or software that improve what is currently used across your sector. An example of qualifying for tax incentives may be creating a technique that increases energy efficiency.
This may be something that is stopping barriers to growth in the manufacturing industry, and has presented your business as finding advancements to improve productivity or accuracy. The great thing about R&D tax credits is that they can contribute to further investment in innovation and continue growth across your organisation.
Are You Looking For A Manufacturing Growth Fund?
If your business is looking for growth funding to support business improvement and expansion, then pursuing a claim may be the right process for you. Unleashing the full potential of this opportunity can reduce your corporation tax bill, helping you invest to support programmes and projects ahead.
Examples of qualified property and processes for this scheme may include innovative equipment that solved an issue you were facing, or modifying a method to improve a project outcome. Many have completed qualifying activities without being aware, so it is important to get in touch to find out where you could have been innovating!
You Will Need To Explain How A Project:
- Looked for an advance in science and technology
- Had to overcome uncertainty
- Tried to overcome this uncertainty
- Could not be easily worked out by a professional
Claim Your Manufacturing Investment Tax Credit
There are different types of government manufacturing grants available depending on the size of your company. The estimated total number of R&D tax credit claims for the year ending March 2020 is 85,900, an increase of 16% from the previous year. Join your competitors in the manufacturing space claiming these rewards and be recognised for your work. Unused credit from a given tax year can be carried forward for future tax liabilities.
If you want to find out whether you are eligible for a manufacturing growth fund, get in touch with our specialist team today. We have experience working with not only manufacturing businesses but also construction, civil engineering, waste management, tech and much more.
As we operate on a no-win-no-fee basis, it costs you nothing to find out whether you have undertaken qualifying activities. You can contact us by emailing info@veritasnoble.co.uk or by calling 01327 317561.
