Despite a mixed picture for R&D in the UK, engineering and technology companies can still use mechanisms to strengthen and protect claims for R&D tax relief and help avoid HMRC R&D enquiries.
The world of research and development (R&D) tax relief has recently been overshadowed by a combination of stricter HMRC policies, increased compliance requirements and bad press, which is largely down to rogue specialist R&D boutique firms offering flawed advice.
Despite this challenging environment, R&D remains crucial for innovation-driven industries, particularly in engineering and technology. These sectors are among the most active in pursuing R&D, and they continue to benefit from the government’s R&D tax relief schemes, which reduce the financial risks and costs associated with innovation, fostering further growth and investment.
HMRC’s latest R&D tax credit statistics highlight the central role that engineering and technology firms play in driving R&D claims in...