R&D Tax Credits for Manufacturing Companies

Claiming R&D Tax Relief in the Manufacturing Sector

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.

In the manufacturing sector, a competitive advantage often goes hand-in-hand with product improvement, keeping manufacturing costs down and successfully overcoming challenges that impact productivity.

If your business is involved in one of the following verticals, you are probably experiencing some of the challenges discussed above:

  • Aerospace
  • Automotive
  • Electronics
  • Engineering
  • Plastics
  • Metal Products
  • Packaging
  • Food and Drink
  • Industrial Machinery
  • Tool and Die

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

The Innovation Plus team has been helping manufacturing sector to get the maximum value from their R&D claims. Our team operates on a ‘no-win, no fee’ basis and boasts an exceptional track record for successful claims in the manufacturing sector.

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Are you eligible for R&D tax relief?

  • Does your business employ less than 500 people and turnover less than £75 million?

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Does Your Company Qualify For R&D tax relief?

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 >

Did you know?

  • The manufacturing sector the single biggest benefactor of the R&D tax credit scheme

  • The annual amount claimed in this sector is currently £770 million

  • The average R&D claim amount in this sector is £144,000