R&D TAX CREDITS FOR Maufacturing
If you are a UK business working within the manufacturing industry and you have introduced new or improved products or processes in the last two years, then you are likely to benefit from an R&D Tax Credit claim.
R&D (Research and Development) is solving uncertainty & overcoming challenges in the workplace. R&D Tax Relief is a percentage of money that you can claim back from HMRC. This is calculated by figuring out how much time you have spent on your more challenging projects over your last two financial years.
We are able to claim back a percentage of your PAYE Salaries, Sub-Contracting Costs, Consumables and Material costs.
Examples of claimable projects within Manufacturing:
• Improving process
• Implementing software to improve efficiency
• Reducing downtime
• Reducing energy costs
• Reducing waste
• Increasing yield/production
• Combining old and new machinery
• Improving health and safety processes
• Working with new materials
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