R & D Tax Relief Now Worth 230% to Manufacturers

Leading R&D tax relief specialists, Alma Consulting Group (‘Alma CG’), today launched a new campaign to drive greater uptake of R&D tax relief by UK businesses in 2015.

The campaign, launched through an infographic, dispels the myths preventing businesses from claiming R&D tax relief head on, and urges them to urgently review the relief they are entitled to in 2015.

The infographic, developed from the company’s 25 years’ experience in the R&D tax relief field and leading industry research, shows that businesses’ most common misconceptions about R&D tax relief are around their eligibility, the claiming process and the future of the R&D tax relief scheme. The Myth Buster draws striking conclusions about the reality of the current R&D tax relief system, including that R&D tax relief incentives are more generous than ever, many companies are eligible without realising, and the claiming process is simpler and quicker than many businesses believe. Alma CG also highlights the increase in companies already claiming R&D tax relief, but who are overlooking new developments to incentives they’re entitled to.

Martin Hook, Managing Director at Alma CG, said:

“There is a perception gap between how R&D tax relief is viewed by UK businesses, and the reality. Our new Myth Buster infographic shows our determination to bridge this gap and pursue our mission of ensuring all eligible R&D tax expenditure in the UK is claimed for.

“Innovation helps companies grow, and Alma CG is here to empower that process. We’re powered by innovation, so we’re dedicated to identifying it and ensuring it is rewarded with the tax relief it merits.

“It doesn’t matter if your company has never claimed, or has claimed for a decade, you must review what you’re entitled to on a regular basis. The New Year is the perfect time to start.”

Over 18 professional sectors claimed for R&D tax relief in 2012-13, with the majority of claims coming from the manufacturing, scientific and technical, and information and communication sectors. Many companies innovate in their day-to-day work, without realising this may qualify them for an R&D tax relief claim.

Alma CG’s research shows that ten industry sectors are missing out most due to R&D tax relief myths, including companies in the food, transport, construction, sustainability, electricity and gas industries.