{"id":9937,"date":"2014-08-28T00:00:00","date_gmt":"2014-08-27T23:00:00","guid":{"rendered":"https:\/\/www.processindustryforum.com\/uncategorised\/research-development-create-cash-business"},"modified":"2014-08-28T00:00:00","modified_gmt":"2014-08-27T23:00:00","slug":"research-development-create-cash-business","status":"publish","type":"post","link":"https:\/\/www.processindustryforum.com\/research-development\/research-development-create-cash-business","title":{"rendered":"Research and Development Could Create Cash In Your Business"},"content":{"rendered":"

Looking for a cash injection to fuel your expansion plans or ease your cashflow? The answer could be right in front of you, within your own business in fact.
\nYou just don\u2019t know it yet!<\/a><\/p>\n

Discover hidden cash for R&D<\/h2>\n

\"Research<\/p>\n

If, like many engineering operations, you\u2019re involved in some kind of research and development \u2013 be it prototyping, development or experimentation with materials or physical production processes \u2013 you could be entitled to potentially lucrative tax benefits. And the more R&D activity you\u2019re involved in, the more you potentially stand to benefit from the Government\u2019s generous but massively under-utilised R&D tax relief scheme.<\/p>\n

Introduced by the UK Government in 2000, the R&D tax relief scheme is designed to encourage innovation and global competitiveness in UK engineering and technology by allowing companies to reclaim money invested in qualifying R&D. It\u2019s one of the best ways of unearthing hidden cash reserves within your own company. And we\u2019re not just talking about a few pounds and pence either. Jumpstart, the UK\u2019s leading technical R&D tax relief specialist, alone has helped companies throughout the UK claim a combined total of over \u00a343.5m in tax benefit! All on a no-win, no-fee basis.<\/p>\n

What qualifies as R&D<\/h2>\n

So what counts as qualifying R&D? Well, every time you change the shape of something from one state to another, for example, or have to assemble two pieces of technology, there could be a technical challenge to overcome. Frustrating though these technical challenges may be, if by resolving them you create a new and more efficient way of doing what you do, then there\u2019s a good chance you\u2019re entitled to tax relief on the associated costs.<\/p>\n

The travesty is that \u201capproximately 9 out of 10 businesses either don\u2019t claim at all or don\u2019t claim enough,\u201d<\/strong> says Brian Williamson, Managing Director at Jumpstart. Scottish-based Clyde Blowers Capital is one of the 10% or so of enterprises taking full advantage of the scheme.<\/p>\n

How some of the customer benefited from R&D claims<\/h3>\n

\u201cMy company has benefited enormously,\u201d<\/strong> says Jim McColl OBE, Chief Executive and Chairman of Clyde Blowers Capital. \u201cIf everyone made use of the services of Jumpstart, then the UK economy\u2026 would be so much healthier. I urge all to follow us, and get what is, after all, rightfully theirs. It\u2019s about economic impact and it is in our hands.\u201d<\/p>\n

\u201cIn our hands\u201d <\/strong>indeed! Consider for a moment how hard your company works to maintain output, stay within budget and get product out the door, right first time and on time. Now imagine if you could still do all that AND reduce your costs significantly. On average, Jumpstart has found that engineering companies can recover up to 25% of their R&D costs, and often in cash. Surely, it\u2019s everyone’s responsibility to unearth this hidden finance and get the reward that the engineers of the UK deserve.<\/p>\n

Doesn\u2019t the very mention of tax have you reaching for the phone to your accountant though?<\/h3>\n

Not with this kind of tax, no, because R&D tax relief is first and foremost a technical area, requiring a special combination of skills. Recruited for their technical expertise and promoted through the Jumpstart Academy, Jumpstart\u2019s analysts are the ultimate hybrid \u2013 highly qualified technical experts who also have an unrivalled understanding of the complex R&D tax relief legislation involved. And it shows!<\/p>\n

Take Craig Clark, Founder and Chief Executive of Clyde Space, which designs cube satellites for customers such as NASA and the US Airforce.<\/p>\n

\u201cAlthough we were clearly doing R&D we were being advised by people who didn\u2019t understand the company and didn\u2019t understand the potential,\u201d \u201cAfter working with the consultants at Jumpstart we recovered more than \u00a360,000 from HMRC.\u201d<\/p><\/blockquote>\n

Clive Kendal, Finance Director for Bilfinger Salamis, has a similar story to tell: \u201cJumpstart\u2019s indepth technical and regulatory knowledge is second to none and their efforts provided us with a previously untapped income stream.\u201d<\/strong><\/p>\n

\u201cIt\u2019s really a case of each to their own,\u201d<\/strong> concludes Jumpstart\u2019s Brian Williamson.
\n\u201cOur role is to maximise your R&D tax relief claim, then it\u2019s over to your accountant to maximise the resultant tax benefit. What could be better?\u201d<\/strong><\/p>\n

For a free consultation and analysis of the potential returns you might expect, call Jumpstart<\/a>
\non 0131 240 2900<\/strong>, quoting Process Industry Forum.<\/p>\n","protected":false},"excerpt":{"rendered":"

Looking for a cash injection to fuel your expansion plans or ease your cashflow? The answer could be right in […]<\/p>\n

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