R&D Tax Credits – Are you missing out?

Do you want to find out if your business is eligible for R&D Tax Credits? Are you looking for funding for an innovative project?

If yes, join us at the next Haven Waterway Business Interaction Group online event in conjunction with Business Wales considering how your business could take advantage of R&D Tax Credits and Innovation funding available from Welsh Government. This will take place on Thursday 28th January 2021, 9.30am - 11.30am.

Navigate to the event R&D Tax Credits – Are you missing out? On Business Wales Events Finder to register

Presenters at the event will include Robert Cowdery from HMRC, Gregg Williams from SMART Innovation from Welsh Government, and Meurig Jenkins, Finance Director from Mainstay Marine.

Since the launch of R&D tax credit schemes in 2000, over 300,000 claims have been made and £33.3bn in tax relief claimed. However recent HMRC research estimated that only 5% of eligible firms make a claim under the relevant legislation.

HMRC will provide a general overview of R&D and how HMRC administer the relief. A closer look at the SME scheme, discussing qualifying activities and qualifying costs that can make-up these claims, with an overview of how this relief can be affected by government grants and other state aid, including the latest COVID grants available.

Meurig Jenkins, Finance Director Mainstay Marine, will provide an overview of the company’s experience of the application process for R&D Tax Credits.

The Welsh Government are able to help businesses carry out Research, Development and Innovation activities.  Innovation Specialists can help businesses make appropriate plans for innovation and gain access to other support such Manufacturing and Design reviews.  Grant support covering up to 70% of eligible costs may be available from SMARTCymru to carry out Research and Development projects, access third party expertise, protect IP, implement new production processes or buy capital equipment. 

In many cases businesses can get both a government grant and R&D tax credits for the same project. However, it is important to be aware that HMRC and Welsh Government may treat project costs differently, and some types of grants are not compatible with the SME R&D Tax relief scheme. We will explain the different types of grant support and whether or not they can be combined with R&D tax credits to help businesses maximise the benefits of investing in R&D.

This is an event that cannot be missed, so confirm your place today, as we expect places to fill up quickly.