Daily Business: Tax advisers pounce to offer R&D relief to Scots firms

Date: October 1, 2018

New data on tax relief for research and development has triggered a wave of interest from specialist tax advisers encouraging firms to take advantage of the cash benefits on offer.

The figures show R&D claims across the UK are increasing rapidly with a 52.2% rise in the number of claims year-on-year.

This includes a 50% year-on-year rise in the number of claims submitted by Scottish companies in 2016-17, with the level of support provided rising by 6%, according to data from HMRC.

A total of £2.5 billion was claimed as qualifying R&D in 2016-17, a 20% rise versus the previous year.

However, Jumpstart, the Edinburgh tax firm, said businesses in Scotland accounted for just 5% of the total value of claims made across the UK.

Martin Gartley, Jumpstart’s Scottish business development officer, said: “It’s disappointing to see that, despite a strong culture of innovation, Scotland has seen the lowest increase in both number and amount in SME claims for R&D tax relief in the period 2010 to 2017.

Click here to read more:

Tax advisers pounce to offer R&D relief to Scots firms

Live chat
Password Reset
Please enter your e-mail address. You will receive a new password via e-mail.