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The Med-Tech industry is striving to create new technologies that deliver innovative, flexible and efficient diagnostic solutions for healthcare practitioners. It’s one of the largest, growing industries in the UK right now. Claiming R&D Tax Relief for the development of these technologies can help re-coup a significant proportion of these costs.

TBAT Innovation Ltd are proud to welcome 5 new members to their team and celebrate their continued growth throughout this pandemic.

Due to the amount of money large companies are likely to be spending on R&D – the RDEC Scheme can be extremely beneficial! The Research and Development Expenditure Credit (RDEC) offers Large Enterprises a tax credit incentive of 13% on all qualifying R&D expenditure.

When we think of R&D, we typically think of scientists in white lab coats and in the case of the Pharmaceutical industry, we’ve hit the nail on the head! However, there are thousands of businesses within it, that are still not taking advantage of the UK’s R&D Tax Relief schemes.

It’s that time of year again – HMRC have released their yearly R&D Tax Credit report, detailing the breakdown of the most recent years claims!

Businesses all over the UK are missing out on the benefits that claiming R&D Tax Relief could offer their company. This blog covers some of the basics that make a business eligible to make a claim.

Collaboration is key when working in Research and Development. Become a TBAT Referral Partner to offer your clients and connections an Innovation Partner who will provide support services to access crucial R&D funding opportunities.

R&D Tax Credits can be a hugely effective way to inject additional finance into a business, and in recent years, there has been a steady increase in the number of businesses claiming them. However, there is still a large proportion not taking advantage of the scheme.

Research and Development in the Rail Industry occurs at all levels, from the rail giants building trains and carriages to SMEs within the supply chain. There is also a wide range of ‘hidden’ R&D that is crucial to keeping the UK railways running and generates innovative new hardware, software and systems which are securing the future of the industry as a feasible public transport and freight service.

Research and Development in Civil Engineering can often by overlooked and seen as day-to-day business activity – but the sector is full of innovation, often making the work performed eligible for R&D Tax Credits.

If your R&D team are not yet back to ‘business as usual’ or a ‘new normal’, we’re here to give a little inspiration for how they could spend the downtime, to positively affect your R&D funding strategy in the future.

We understand that making your first R&D Tax claim can be like navigating uncharted waters. To make the process as easy as possible, here are our 5 top tips for making your first R&D Tax Credit claim.