Member Article

Smith & Williamson launches Research and Development calculator

Smith & Williamson, the accountancy and investment management group, has launched a new Research and Development (R&D) tax relief calculator to help businesses work out how much they can claim from the R&D tax relief scheme.

The R&D corporation tax relief scheme is a key part of the government’s strategy to promote innovation and sustainable economic growth in the UK, yet many companies miss out on tax relief by failing to claim R&D tax credits or relief. This may be because their R&D activities are integral to their overall trade and not something they specifically identify as being R&D. The online R&D calculator will help businesses discover how much tax relief they could be eligible for.

Andrew McKenna, Head of the Manchester office of Smith & Williamson, says:

“The R&D tax scheme rewards the significant contribution made by small businesses to the UK economy for their efforts in innovation. The cash repayments of up to 33% of R&D expenditure dramatically boosts cash flow and enables businesses to further invest in their growth. It is disappointing that some companies miss out on this relief altogether or claim too little.”

More information can be found online here: https://www.smith.williamson.co.uk/r-and-d-tax-calculator

This was posted in Bdaily's Members' News section by Smith & Williamson .