“R&D is not just about lab coats and microscopes.”

From doughnuts to space exploration, there are a myriad of projects that can make companies eligible for a Government-backed tax incentive to stimulate innovation, as explained by one
expert in the field.

Companies entitled to claim thousands in tax rebates for research and development projects are misinterpreting the criteria of what constitutes a successful claim. One R&D expert based
in the North of England, estimates that as many as 85% of its clients didn’t know they could claim tax credits through the HMRC tax incentive ahead of their initial conversation, with many thinking they had to employ scientists in lab coats to qualify.

Mark Joyner, director of
Research & Development Specialists
LTD (RDS) (www.randdspecialists.co.uk)
explains more about the scheme and highlights some of the more unusual projects that have resulted in tax rebates for its clients.

“There is absolutely a false belief out there that research and development is all about scientific research,” explains Mark. “People think there needs to be teams of scientists in laboratories
creating the next miracle drug or vaccine. It’s something we come up against time and time again when dealing with potential clients.

“Yes, it’s true that those types of companies can and should apply, but I’m here to say that it doesn’t matter which sector you’re operating in, if you’ve put the leg work in on an original
product or project that doesn’t already exist in the UK, you could meet the terms for a successful R&D claim.”

Mark set up the company in 2017 when he was working in digital marketing. He initially began to explore the scheme as a way of freeing up clients’ money to invest in further marketing,
however, soon came to realise that there was very little awareness and that lots of companies were missing out on huge sums of money to invest back into their businesses.

Since becoming a limited business almost five years ago, RDS has helped nearly 500 businesses to claim back over £23,000,000 in tax credits. And as Mark explains, very few of those have
involved scientific investigations as many imagine.

“Scientific research and development projects really only make up a tiny proportion of our clients. We deal with a lot of manufacturing and engineering firms, those in IT or those who
have installed bespoke IT systems, as well as construction and education being buoyant sectors for us, but there is enormous scope to the areas in which we work.

“Some people might believe that working in the financial services sector and dealing with HMRC on behalf of other people would be dull, but I can honestly tell you that no two days are
the same for us.

“I think our most exciting claim to date has to be the company that essentially powers the rockets for the European Space Agency, but we’re involved in anything from the development of
new types of low-fat, low-sugar, high-protein doughnuts (that taste amazing might I add) to a company that helps to compile topographical data in association with NASA.

“We’ve seen companies optimising vehicle conversions via aerodynamic manipulation and those who’ve developed unique state-of-the-art components to be used in Lotus sports cars. More recently
we’ve had enquiries from a company that imports tanks and army equipment from the former Eastern Bloc then hires them to TV and film production companies. As you’ll see it’s a real mix.

“Typically, it will only take our experts less than fifteen minutes over the phone to find out if you have a valid claim to R&D tax credits. With the average claim being around £53,000
I’d say that’s worth quarter of an hour.”

The HMRC Tax Incentive is a Government scheme dating back to 2000. It aims to grow the economy by encouraging innovation in business. Any UK business of any size can apply.