binoculars

How Heritage Manufacturers can benefit from R&D tax credits

Heritage manufacturers constantly innovate, but do they always realise?

Lesley Jones, Director, Corporate Tax
17/02/2020
binoculars

In the month when we’ve released the findings of our annual Manufacturing Outlook Report it seems a good time to reflect on the breadth of companies who manufacture in the UK ranging from the very new to the long established. This allowed us to think about the heritage of some of our clients and how they’ve kept their brands and products strong and relevant.

We are a country with a great manufacturing tradition and many companies have a well-established heritage but still remain relevant however fast-moving the world of business becomes. Innovation doesn’t always stem from a brand new idea, it’s often from a reaction to changing needs and demands.

We are proud to work with companies that continually reinvent their product and bring new ideas to their market. Great examples of this can be found amongst our North West clients where one company is currently celebrating 140 years of manufacturing in the UK.  Investing in new technology and techniques has played a part in their continued success and claiming R&D tax credits helps support further investment.

Sound familiar? You may not have a 140-year heritage but if you are making or improving a product, do you need to overcome technical or scientific challenges to get there?  And have you considered whether that means you can benefit from R&D tax credits?

If you haven’t our manufacturing checklist is a great place to start.  You can find this and much more information on R&D on our dedicated pages, or contact Lesley Jones to discuss this further.

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