Many companies in South Wales are believed to have paid, and are continuing to pay, excessive amounts of tax because they are failing to claim (or maximise) a generous tax incentive which they are entitled to.
What is Research & Development (‘R&D’) tax relief all about?
Ultimately, R&D tax relief is about reducing a company’s tax liability and thereby increasing the amount of cash in the company or in the hands of its shareholders.
Examples of some of the industries in which successful R&D claims have been made include:
- Computer software and IT
- Food and beverage
- Consumer and retail
- Sustainability and renewable energy
- Oil and gas
Our specialist R&D team can advise you on your potential eligibility and assist you in making a claim for Research & Development tax relief.
Also relevant for innovative companies – the Patent Box tax regime