Mitchell Charlesworth helps NW businesses access over £3.6 million in R&D tax credits during pandemic
During the Covid-19 pandemic Mitchell Charlesworth has helped businesses in the North West access more than £3.6 million from the government’s research and development (R&D) tax credit initiative.
The average amount of R&D tax relief received by Mitchell Charlesworth’s clients was more than £42,000. Successful claims have been made across a wide variety of industries, including manufacturing, technology, construction and professional services. Not all of these industries are offering high tech solutions or groundbreaking research and the R&D tax relief is available across a wide range of business activities.
Phil Hartley, tax director and R&D specialist at Mitchell Charlesworth, says: “As we draw closer to the end of the pandemic, I look back on this period of uncertainty with great pride at the support that we have been able to provide to our clients through R&D tax relief, which in some instances has been crucial to allowing the companies to not only survive but to grow during the past 18 months.
“R&D tax credits are continuing to play a crucial role in supporting companies with their innovative activities and we have seen an increasing number of companies looking to make a first time claim for the relief during 2021.
“However, it is important to note that HMRC have recently issued a consultation document on R&D which indicates they are looking to ensure that the scheme ‘remains up to date, competitive and well targeted’. This suggests that changes to the relief are coming and therefore it is more important than ever to take professional advice when making an R&D tax relief claim.”
This was posted in Bdaily's Members' News section by Anne Griffiths .