26 September 2018

Are you eligible for R&D tax credits?

Developed a new product or improved an existing one?

Made or attempted a significant improvement to your production process?

Created an innovative or unique piece of software?

Then you could be eligible to make a Research & Development (R&D) tax claim.

The BPIF have teamed up with R&D tax specialist Garbutt + Elliott to help members identify and claim tax credits for any development work undertaken.

It's a common misconception that to claim R&D tax credits you need a laboratory and men in white coats, when in reality the printing industry is constantly evolving its products and processes to meet customer demands and much of this activity could be eligible for tax relief.

In recent years the R&D tax relief scheme has seen unprecedented growth with more companies than ever are making claims. Garbutt + Elliott has extensive specialised knowledge in R&D, particularly within the digital, print and creative sectors, and is well positioned to be able to raise awareness amongst BPIF members of what tax savings are available for R&D, as well as preparing claims for members. 

Examples of potential print industry R&D might include:

• Developing new inks that are less hazardous, longer lasting
• Developing new printing circuits with conducting inks
• New ways of sealing packages through hot/cold methods
• Manufacture of cardboard boxes which are stronger and more water resistant.
• Improvement of key technology, for packing, litho, rotogravure etc
• Reducing paper wastage such as improvements in your production line processes. For example reduce mangling or slips by improvements on "joggers", and the speed/acceleration of cardboard through the line such as moving from "fast", to slow" and accelerating to "very fast".

The main qualifying R&D costs associated with solving these scientific, technological or materials uncertainties generally fall into one of the following headings:

1.       Staff costs, including company pension and employer national insurance costs

2.       Consumable items (materials, power, fuel and water);

3.       Software.

"Garbutt + Elliott have been essential in saving us substantial tax through their expertise and practical business sense. The tax savings we have benefitted from have been ploughed back into the business to fund our expansion plans." Anonymous.

Want to find out if you are eligible to apply for R&D Tax Credits contact; [email protected] or 01924 203335