Do you have eligible Research and Development in your business?
13th January 2021
The COVID-19 pandemic and the challenges it brought to the forefront has for some businesses sadly resulted in their closure.
However, for a large number of businesses, the pandemic has brought with it new opportunities and resulted in them pivoting their business models, products, production lines, delivery methods and, certainly for some of our clients, every aspect of their business.
As a result, it is possible that where a business has pivoted and there was a requirement to advance the technology or manufacturing methods used, the business may be eligible to make a claim for Research & Development tax relief.
A few examples of potential R&D claims might include:
A software company which has moved to the cloud or developed new online tools to support remote businesses. If this action required an advance in computer science, there is the potential for a R&D claim.
A manufacturing business that has developed a new and approved item of PPE or a distillery that found a more effective way to make hand sanitiser may also present the potential for an R&D claim.
If you would like to speak to a member of our team regarding any potential R&D tax claim please contact us on 020 7330 0000.