Scottish R&D Claims Lag Behind UK Peers

HomeSwanson Reed

Scottish R&D Claims Lag Behind UK Peers

Scottish companies are being encouraged to claim R&D tax relief after HMRC data showed that they are only claiming a fraction of the UK equivalent. £230 million has been claimed by Scottish companies for the 2018/29 financial year with an average claim value of £80,341. This amounts to 2,920 claims out of 11,820 claims in London.

Despite this, Scottish R&D claims did increase from the previous year. Furthermore, Scotland has had a 57 percent increase in startups in Q3 compared to Q1, with lockdown and working from home encouraging the rise of new tech businesses.

Many businesses are turning to established funding schemes like the R&D tax relief programme, with events like COVID-19 and Brexit having had a major impact on their cash flow. R&D tax relief will have a key role to play in the country’s long-term economic growth and ability to compete on an international level.

Source: The Scotsman

By swansonreedcouk swansonreedcouk|October 28th, 2020|

About the Author: swansonreedcouk swansonreedcouk

     
   Swanson Reed - Specialist R&D Tax Advisors
   40 Google reviews 
 
  
        
   Swanson Reed - Specialist R&D Tax Advisors
   40 Google reviews 
 
 
 
         
   Daniel McGregor 
 2022-08-11
 
 
   I have been using Swanson Reed for my clients for more than a decade.  Having a specialist firm that can provide practical and commercial advice that produces real outcomes is very important and we have received great feedback from our clients.
Highly recommended.
  
 
 
       
   Anatole Kononewsky 
 2022-06-02
 
 
   The Swanson Reed team have provided our company with exceptional professional advice and assistance for all of our R&D claims for many years - have always achieved great results with excellent value for their services.
  
 
 
       
   Melissa Doddy 
 2022-05-31
 
 
   The Team at Swanson Reed are very experienced R&D Tax Advisors and gave us ongoing support with all of our R&D Claims, the consultants ensured we were always working with current legislative guidelines, gave us assistance with compiling technical and government documentation and went out their way to ensure they were with us for the entire process from beginning to end.  Highly recommended to anyone who needs assistance with working through what can at times be a daunting process.
  
 
 
       
   Alana Owers 
 2022-05-30
 
 
   We have been dealing with Damian and Swanson Reed for several years in relation to processing our R&D claims.
Always find them easy to deal with and helpful with all concerns and queries we have. We would highly recommend Swanson Reed for your R&D help.
  
 
 
       
   Mexx Engineering 
 2022-05-27
 
 
   We are a client of Swanson Reed since 2010. Damian and his team are very professional and extremely organised. At all times, our R&D applications were handled with care. They have reviewed each application extensively and made sure that we are supported every step of the way. We highly recommended their services.
  
 
 
       
   Sarah Heath 
 2022-05-27
 
 
   Damian and the team at Swanson Reed have been one of the most efficient professional organisations I have dealt with - their response time is commendable. Their specialist knowledge of R&D is extremely extensive but yet practical and importantly, they are approachable and considerate to the client's needs.
  
 
 
       
   David Reisner 
 2022-05-26
 
 
   We engaged with Damian and Angel at Swanson Reed on the recommendation of a related party.  For the past four years they have helped my company navigate the process of research and development incentives offered by the Federal Government.  This has been the single most important relationship we have had in financially supporting our journey as a start up.  I can't recommend this organisation highly enough.
  
 
 
       
   Sarah Hay 
 2022-05-26
 
 
   Damian, Angel and the team have held our hand through the application of numerous R&D claims.  They have consistently guided us through the collation of required information, ensuring compliance and simplifying the daunting task.
Swanson Reed’s involvement has been vital to our successful applications!