HMRC?s statistics for claims for businesses under 500 employees reveal some wide regional variations.
Of course many of the claims will be processed at a Head Office level for the larger firms which could produce a London bias.
That said, smaller businesses are not necessarily as South East centric as corporations.
The implication is the further you are from London? the less likely you are to claim.
This suggests regional accounting firms do not fully recognise the breadth and purpose of the scheme.
R&D has a broad definition ? think of it more as Tax Relief for Product Development.
Farming, construction, mining and even the hotel sector make successful claims when new ideas have been initiated.
It?s not simply about Manufacturing and Software.
There may be a role for the UK?s Regional Local Enterprise Partnerships and Chambers of Commerce to raise awareness.
This scheme helps businesses recover 15% of their Product Development costs ? claims average ?40k.
If you sense that the business opinion formers in your region are not making R&D Tax Relief a priority contact us.
We can quickly tell you if you have a claim and the approximate value.
Claims by region for R&D Tax Relief 2010 to 2011
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