EEF, the manufacturers’ organisation, is working in partnership with Jumpstart to encourage more manufacturers to make the most of R&D tax credits.
EEF is set to work alongside leading R&D tax relief specialist Jumpstart to encourage companies across the UK to make the most of R&D tax credits.
The move will see Jumpstart provide expert advice to EEF members to ensure that they secure their full entitlement of R&D tax relief, as well as provide guidance to companies seeking to apply for credits for the first time.
The partnership and advice will benefit firms of all sizes, from FTSE 100 companies with complex R&D programmes, through to SMEs simply requiring support with the claim process.
Having played a leading role in campaigning for the introduction of the R&D Tax Credit, EEF is keen to ensure that manufacturers benefit from their full entitlement.
Last year, UK manufacturing companies benefited to the tune of £770m through the tax credit scheme. However, EEF remains concerned that a significant number of companies are either not taking advantage of the scheme at all, or are not maximising their value.
Jumpstart is a leading R&D tax relief specialist guiding companies through the complexities of making R&D tax credit submissions to HMRC. With a large team of technical analysts combining specific scientific and technical backgrounds and industrial experience they are able to identify all available eligible R&D activity and translate very technical information into meaningful reports that are fully compliant with HMRC’s R&D guidelines.
Charles Garfit, EEF membership engagement director, said: “Our role is to support UK manufacturers and help them realise their growth ambitions in an ever more competitive environment. Investing in R&D is vital to attempts by manufacturers to do just that by increasing their innovation performance and productivity.
“This partnership will be critical in helping companies navigate the complexities of the process of applying for the R&D Credit. It will ensure that those companies already benefiting can maximise their entitlement, as well as enable those encountering the process for the first time to achieve a smooth route through it.”