Growth Funding & R&D Tax Credits Raising Business Finance Raising Business Finance for growing companies can be daunting and time consuming, Sincero are here to guide you through the growth funding application process. R&D Tax Credits The Research and Development (R&D) Tax Relief Scheme is a Government initiative, created to reward and encourage UK companies to invest in innovation. In reward for the risk-taking companies can claim a Corporation Tax reduction or refund. According to recent statistics published by HMRC, 2017-18 shows SME’s in the North East are missing out on R&D Claims more than other UK regions. Next steps... A qualifying project would need to prove that they have created or significantly improve a process, material, device or product which increases knowledge or capability in a field of science or technology. There is a common misconception that qualifying activities are limited to pure research by technicians in laboratories; this is not the case. Any kind of innovation may constitute qualifying activities. If the answer to any of the following questions is yes, then a claim may be possible: • Have you automated previously manual processes? • Have you modified manufacturing processes, maybe for specific customer requirements? • Have you developed new products or upgraded/refined existing products? • Have you devised bespoke software for a particular purpose? • Do any of your technical staff undertake research/problem solving? • Are you market leaders in your field? • Have you created patents over any of your products? The average claim is £28,500 but we have many customers receiving over £100,000 per year. The Research and Development claims are made on a ‘No Win, No Fee’ basis