Many firms in the automotive sector are likely to be eligible for some form of tax relief on their R&D activities. Here’s how to make a successful – and potentially very lucrative – claim.
For companies in the automotive industry, pushing technological boundaries – from prototyping and materials development to experimentation with production processes – is an essential component of success. But even though automotive firms are spending huge amounts on developing new technologies, few are actually claiming the sizeable sums in R&D tax relief that they are often entitled to. And, given the current economic climate, it’s more surprising yet that businesses are typically failing to fully explore the incentives available to help either reduce tax payable or secure tax refunds.
Article originally published on Lombard Content Live
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