Glass Times: Millions Wasted Thanks to R&D Blind Spot

Date: July 2, 2018

More than eight in 10 engineering and building firms could be eligible for research and development (R&D) tax relief on new products and services but only 39% of them have ever claimed, specialist tax relief firm Catax has revealed.

Businesses in the sector are throwing away £millions even though a massive 83% of them have developed new products or business processes in the past two years, research shows.

This means they are in line for valuable R&D tax relief that the government provides to encourage innovation.

But despite 80% of firms being aware of R&D tax relief, only four in 10 (39%) report ever claiming it, the Catax study shows. This is either because they don’t think they qualify or they incorrectly believe that it is expensive.

Read more here.

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