Only 20% of UK small and medium enterprises eligible to receive tax refunds for innovation apply. These 20% received £1.3 billion in the 2015-2016 tax year alone. Altogether, SMEs and large enterprises have received nearly £3 billion in this period. For more information on the R&D Tax Credits you could also read our summary of the statistics on the R&D Tax Credits in the UK pulished by HMRC, September 2017.
At Winnovart we want to figure out why this is and help more companies claim this benefit. Therefore, we have prepared a five question survey, which would help us get insights on the level of awareness across innovative companies and industries in the UK.
For those filling in our 2-min questionnaire, we would be very happy to offer a free assessment of the eligibility and potential tax benefit under the R&D tax credit scheme. We will also publish the survey results in July – August 2018.
At Winnovart, our focus has always been grants-based funding programmes, such as the ones from Innovate UK, EC/ Horizon 2020 or similar. Although under different terms, the R&D tax credit scheme offered by HMRC represents a way faster and less competitive alternative for R&D performing / innovative companies in the UK to receive a “funding-type” support. Or, for those successfully receiving innovation grants, a very good “funding add-on”.
Fore more information on the R&D Tax Credits scheme, please don’t hesitate to contact us.