R&D Tax Advisors and RAPRA Join Forces to Support UK Industry

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R&D Tax Advisors will now be providing guidance to an increasing number of British companies that develop products on the back of polymer-based research, following the announcement of a partnership between G2 Innovation - the specialist tax advisor’s parent company - and The Rubber and Plastic Research Association (RAPRA).

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R&D Tax Advisors are here to help your company claim back tax spent on research and development.

RAPRA’s members gain access to guidance on technical advice, information, business development, skills and training in any capacity associated with rubber and plastic, however until the new partnership was made they had no dedicated facility for helping members in the specific area of tax credits associated with research and development. R&D Tax Advisors will be working closely with RAPRA members via seminars, news articles and other guides to help them get the most from the government’s valuable but under-utilised R&D Tax Credit Scheme.

The scheme is worth over £1 billion a year to companies and applies not just to new scientific ideas; firms coming up with greener products or processes and more effective manufacturing methods are also eligible, with the average national claim being £40,000. The government has improved the scheme recently as well, with the rate for SMEs increasing from 200% to 225% and the introduction of a new pre-tax flat rate for large companies. Despite all of this, it’s estimated that only 15% of eligible companies are actually making claims.

Leading design and innovation company G2 have long been claiming these tax credits for their clients and have recently set-up R&D Tax Advisors as a dedicated way for companies to claim as much relief as they can, providing the specialist legal, regulatory and accountancy skills to get the most from the scheme as cost-effectively as possible.

With G2 as a parent, R&D Tax Advisors have instant access to a wealth of expertise on all relevant issues surrounding design and innovation and are therefore in an excellent position to help RAPRA members. G2 Director David Eilbeck stresses the importance of this help: “R&D tax credits directly aid cash flow, which is ultimately what keeps a business alive – particularly in current economic conditions where credit is hard to secure.”

The partnership will alert many RAPRA members to R&D tax credits for the first time, as many businesses simply don’t know about the scheme, or have been told – incorrectly – that they don’t qualify.

Any UK business can contact R&D Tax Advisors to discuss their eligibility for relief, 80% of successful claimants were previously unaware that they were eligible so an enquiry could prove very worthwhile:

For further information please visit http://www.rdtaxadvisors.co.uk, alternatively the team can be contacted by telephone: 0115 824 0511

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Ben Thorns

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