Are you turning down free finance from HMRC?

We all know how hard it is to obtain finance, especially post 2007, but if your company is in the field of manufacturing, engineering, science, IT or technology then you could be missing out on free cash from the Government in the form of research and development (R&D) tax relief regardless of whether the company is profitable or not!

As we await the latest statistics from HMRC, it is worth a recap of the statistics from last year.

In August 2014, HM Revenue & Customs provided information based on 2012/13 R&D claims by companies and interestingly there were less than 550 R&D claims by companies in the North East. Claims by companies in the West Midlands, for example, were almost double that of the North East. Given that the North East is, in our opinion, a hot bed of innovation and manufacturing, it is puzzling and at the same time worrying that the claims are so low.

We are perplexed by the low amount of claimants which we can only attribute to either a lack of promotion of the R&D reliefs by some accountants who do not have the expertise to advise on the relief or that companies are too modest when it comes to their own products and dismiss the idea that their products are ‘innovative’ and only see the product as a result of ‘what we do’.

Luckily the tax experts at Clive Owen LLP, in conjunction with our colleagues in the Kreston network, have made claims in excess of £50m.

There is more information available on our website - - but why not make an appointment to speak to us about a claim?

Even if there is nothing to claim, you won’t have lost anything apart from a little bit of time and the price of a cup of coffee (and perhaps a biscuit!).

But imagine if the claim resulted in thousands of pounds back from HMRC. You could buy that new machine, you could take on that apprentice, you could extend the premises – we would advise on the tax breaks associated with those too!


Not a company? Don’t worry – we can help re-structure your business to enable future claims to be made!

Don’t let modesty get in the way, call Clive Owen LLP today