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Almost £2.5 million claimed for East Midlands clients in R&D

Almost £2.5 million claimed for East Midlands clients in R&D

Tim Woodgates

Moore East Midlands have helped local businesses recover a massive £2,477,143.44 in tax savings on Research and Development (R&D) spending from January 2019 to June 2021.

What is R&D tax relief?
Research and development (R&D) tax relief is a UK tax incentive designed to encourage innovation and increased spending on R&D activities by UK businesses. It is available to any business which is liable for corporation tax and undertakes research and development activities such as creating or modifying new or existing products, processes, or services.

Over the recent years, R&D claims have increased significantly as businesses are seeking out ways to save and improve their cashflow.

Tim Woodgates, Associate at Moore East Midlands, Corby office, says. “We have assisted clients to identify and claim enhanced tax relief on £73m+ of R&D costs.

“A popular misconception is that R&D tax relief is aimed purely at medical and pharmaceutical companies. Because of this, R&D tax relief is often overlooked by smaller businesses who assume that they won’t qualify. This is not the case, as long as your project seeks to achieve an advance in science or technology then there can be major tax savings available.”

At Moore, we've helped clients across a wide range of sectors to make successful R&D tax relief claims. If you think your business can benefit, we can assess your situation to see if you have a claim and make the claim on your behalf.