Black Country SMEs Missing Out on R&D Tax Refunds

Local businesses in the Black Country are missing out on eligible R&D tax credit

As experts in securing Research & Development tax savings, we highlight our concerns that local businesses are missing out on earned R&D tax credits.

What are R&D Tax Credits?

Research and Development (R&D) tax credits are a government tax relief that rewards UK Limited companies for investing in innovation. Companies who spend money developing new products, processes or services – or enhance existing ones – are eligible for R&D tax credit and/or a corporation tax refund under the scheme. The average pay-out to SMEs is over £50k per year.

Managing Director of R&D Tax Claims, Mark Evans, explained:

 “Far too many companies are not claiming due to the misconception that they are not eligible, or the process is too complex or time consuming. We’re keen to get the message out to manufacturing and engineering SMEs in the Black Country that our no-win, no-fee promise is a genuine one, as we only get paid once our client has received their tax refund or R&D tax credit.”

Smethwick-based precision engineers A&M EDM Limited, has been working with R&D Tax Claims since 2012 and has secured £675,000 in tax savings.

A&M Managing Director, Mark Wingfield, commented:

“We have always been committed to reinvesting in our business – creating new jobs and opportunities for the next generation of skilled engineers. However, along with our accountant, we did not view this as eligible activity, and had dismissed the opportunity to make a claim under the HMRC scheme as too difficult to prove, time-consuming and costly. It wasn’t until we met with Mark Evans from R&D Tax Claims that we quickly learned that we were eligible, and after this initial meeting we received our first tax refund in under 2 months. The process was quick, simple and efficient.”

 

Mark Evans explained further:

 “In our experience, too many companies fail to achieve the maximum refund, or a refund at all. Whilst they know their business – inside and out – they are unable to translate this into a report that clearly documents eligible expenditure. Conversely, their accountant may understand the HMRC scheme, but may not have the industry knowledge to identify qualifying projects. Importantly, our service includes preparing the report and liaising with HMRC and we only get paid once the client has received their tax saving, making it risk-free.”

To find out more, contact us, or call us on 0845 003 0140.

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R&D Tax Claims Explained


Find out how you can claim from the government tax incentive scheme designed to encourage companies to invest in R&D.

About the Scheme

A government incentive that rewards UK companies for spending on innovation.

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The Benefits

Receive a cash credit, lowered corporation tax bill or a combination of the two.

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The Process

Tried and tested process with six easy steps which can be completed in 12 weeks or less.

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Claim Eligibility

Have you developed new or improved products or processes?

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