Over £1billion of R&D tax credits go unclaimed every year in the UK. In order to help companies access all of the support that they are eligible for, Kent Science Park has teamed up with R&D claims experts Jumpstart, to host a free workshop on 12th February on claiming R&D tax credits.
Jumpstart have the UK’s largest concentration of hybrid technical analysts, typically qualified to PhD level, who also have a comprehensive understanding of the complex R&D tax credit legislation. Kent Science Park and Jumpstart have worked closely together in the past as part of the Park’s Launchpad initiative.
Running from 12pm until 2pm, the event is open to any company, small or large, that spends money trying to improve a product or service through technological advance. If that company uses qualified staff and appropriate project controls (and where there is doubt about the project’s success) they could be eligible to make a claim. This will primarily include sectors such as Pharma, Biotech, Life Sciences, Health, Food & Drink, Medical Devices, ICT, Software, Digital Media, Mechanical Engineering and Product Design.
Richard Wheeler, Business Development Manager at Kent Science Park is organising the event. He commented:
“Unfortunately, I think that a lot of businesses are missing out on potential savings because they are unaware of just what they can claim. Kent Science Park is hosting this event to give local businesses access to free advice on the subject and can help them understand exactly what they are entitled to. They can still make claims for the current and previous financial year, so it is really worth their while to attend.”
David Batten from Jumpstart also commented on what companies could expect to get out of the event:
“The precise size of the tax credit will depend on the size of the company, its tax rate and how many of its activities are eligible. Smaller companies, for example, can claim at a higher rate and qualify for extra financial support if they are loss making.
“The financial benefit is on the table and it makes sense for companies to take advantage of it. The trouble is that many of these companies have people who are technically brilliant but may not have a clear grasp of the requirements of the legislation. That’s where we can help.”
Although the event is free, places are limited. To secure your place on the event on the 12th February, please visit kentsciencepark.co.uk/events.