R&D Tax Credits for Manufacturing Companies
R&D Tax Credits are a valuable incentive for manufacturing companies. The additional funds that they add to a manufacturer's balance sheet allows them to address changing consumer needs and new industry standards. Also, continuous pressure from new entrants into the market and other factors can contribute to an ongoing requirement for invention, innovation and technological advancement.
Qualifying R&D Activities
Claiming R&D Tax Relief in the Manufacturing Sector
When most people hear of R&D, they think of large multinationals employing scientists in white coats. However, the majority of the claimants taking advantage of the program are small to medium sized enterprises from all sectors of the economy, and:
- Most claims we see are for Development rather than Research
- Qualifying projects attempt to develop a new or improve an existing material, device, product, or process
- The work performed seeks a technological advance by resolving areas of technological uncertainty
- If your engineers or technologists encounter failures in the course of their work, or it takes longer than projected this may point to projects that potentially qualify for R&D tax relief
- Design work and feasibility studies may qualify to the extent that the study is related to the development of a technological advancement
- Lack of documentation may not be an obstacle
It is the set of obstacles that you encounter as you strive to increase product quality, production levels, advance the functionality of products, develop new technologies etc. ,in the pursuit of business goals, that determine eligibility, not the business goal itself.
Contact us today to see how we can help you determine if you can benefit from this valuable R&D tax relief scheme >
Find out how much tax rebate you could claim with our R&D Tax Credit Calculator >
Get Your Free Assessment
Find out how much your manufacturing company could claim in R&D tax relief.
- No upfront fees
- Proven track record
- End-to-end claim preparation
Ready to Claim Your R&D Tax Relief?
Get a free, no-obligation assessment of your potential R&D tax credit claim. Our specialists will review your projects and identify qualifying activities.