Research & Development tax credits are a valuable offering from HMRC to help develop and innovate within the business sector through technological and scientific advances within the process of an individual company.
HMRC figures show that currently as little as 5% of businesses eligible to claim for Research & Development actually do so. This is normally due to uncertainty as to whether a business is eligible or not. Company accountants seldom have any type of R&D specialist employed and therefore prefer to ignore this opportunity, or choose to ‘outsource’ the work, charging the client for their time as well as the agencies.
PBS have identified through its specialist R&D partners, areas within the wholesale drinks and manufacturing sector where such innovation can be found. The result to businesses is the ability to utilise this now fourteen year old tax incentive from HMRC to drive changes to the business processes, giving companies the ability to use the tax credit to change their systems, becoming more efficient through the use of technological advances, driving greater profit and more employment, the very purpose of this tax credit from the government.
Our team of specialists is on hand and offer a complete customer experience giving our clients the opportunity to see whether their business qualifies for Research & Development tax credits, before they decide to claim.