What will a new government mean for Britain’s SMEs?
The Conservative manifesto included a commitment for firms investing in innovation will receive further tax breaks on research and development projects.
The Conservative pledge:
“Deliver the fastest-ever increase in domestic public R&D spending, including in basic science research, by upping the research and development tax rate, or how much tax relief businesses can claim on research spending, by one per cent, going up to 13 per cent.”
The Tory manifesto also went on to promise to review the definition of R&D to cover the investment in other areas such as data gathering and processing, and cloud computing, which if implemented will hand a sizeable boost to the technology sector.
All good news, right?
Perhaps, not as your business still has to submit the best claim or else this will all be in vain.
That is where the Datafox R&D Tax Credits experts come in. Our business has successfully processed thousands of claims leading to cashback payments of over £50 million.
Datafox MD Jonathan Leefield commented, “Research and development tax credits have been of tremendous help for many businesses, particularly for innovative SMEs.” Jonathan added, “It’s imperative that if you are a business eligible for this tax break that your business makes the most of the opportunity as still to this day, over 90% of businesses fail to make a claim. Of course, Datafox would be delighted to help you on a no win no fee basis.”
The Research and Development Tax Credits scheme is one of the largest businesses support schemes. R&D activity is happening across nearly every sector. Datafox has worked on claims from fashion to events, apps, cosmetics, fishing, aviation, breweries and much more. Many companies simply miss out on claiming as they believe they don’t qualify, or it doesn’t generate enough funds.
Take our short test now to see if your company is eligible now