The Research and Development tax credits legislation has been around since 2000, but the vast majority of eligible businesses are still not making a claim. Many companies are unaware that their activities are ‘R&D qualifying’ for tax purposes which can lead to significant corporation tax savings or cash credits from H M Revenue and Customs. SCI has been claiming R&D Tax credits for a number of years, but after a review by a specialist consultancy in 2014 we found that we had been significantly under-claiming. The result was a credit of many £000’s. The ongoing impact has fundamentally changed the SCI’s ability to continue operating and investing in R&D. If you are interested in finding out more please contact SCI’s Chief Finance Officer Mark Allen.
