R&D Tax Credits are a valuable incentive for manufacturing companies. They allow them to address changing consumer needs and expectations, new domestic and international trade entrants into your market, increasingly demanding industry standards, continuous price point pressures and numerous other factors that contribute to an ongoing requirement for invention, innovation and technological advancement.
Competitive advantage doesn’t come without improving products and the need to overcome technology challenges that impact productivity and keep manufacturing costs at a higher level than the market may allow.
If your business is involved in one of the following verticals, you are probably experiencing some of the challenges discussed above:
R&D Tax Relief encourages new product development through significant cash credits and tax refunds. These tax refunds can represent a significant reduction in the costs of R&D and provide advantages you need to remain competitive
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:
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 incentive.