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Small to Medium Enterprises (SMEs) primarily use the SME Scheme for their R&D Tax Relief claims; however, there are some occasions where a SME needs to use the RDEC (Research and Development Expenditure Credit) Scheme too.

Managing Director, Matt Symonds, and Director, Sam Stephens, have cleared their diaries for 1 day to book one-to-one consultations, to discuss R&D funding opportunities for your business!

In order to support clients during these uncertain times we have collated some of the initiatives currently available to businesses – updated 20th April 2020.

Article written by Smith Cooper.

Smith Cooper are thrilled to share that they have joined forces with TBAT Innovation. The collaboration will see a new R&D online portal launched.

The R&D Tax Credits available from HMRC could prove an invaluable cash boost to those companies that are eligible to claim.

Read more for how HMRC are responding to the COVID-19 pandemic in relation to R&D Tax Credit claims.

Ian Bolland from Med-Tech Innovation News spoke to Sam Stephens from TBAT Innovation about how manufacturers in life sciences can go about filing an R&D tax credit claim during the Coronavirus pandemic.

Business owners often assume that their R&D Tax Credit claims can only include the expenses shown in their P&L account, forgetting to consider the Intangible Asset category on the Balance Sheet. However, development costs that have been capitalised under intangible assets can also be included in your claim, if they fulfil the R&D claim criteria.

By excluding them you could be missing out on claiming the R&D uplift of 130% of the cost!

During these uncertain times, it’s important to highlight who local R&D focused and highly innovative businesses can turn to, to receive business support to access the additional funds they need.

Find out how R&D Tax and Grant Funding can add additional revenue.

11^th March 2020 marked the date of the 2020 Budget announcement. We waited in anticipation to find out if there are any notable changes for the R&D landscape and we were in luck!

So, what are the hot topics?

You’ve submitted your R&D Tax Relief claim to HMRC and you know how much ‘credit’ you’re due to receive. Now you’re thinking, “what’s next? How should you re-invest your R&D Tax Credits?”

In June 2020, our TBAT colleagues Richard, Ryan and Steve will be donning their cycling gear and riding Coast to Coast (Whitehaven to Robin Hood’s Bay) on behalf of #TeamAlyssa and CLIC Sargent.