FEATURE


ENTERPRISE & INNOVATION An advance is often seen in a commercial context


where a company is undertaking development work with a view to: • Creating a new product or processes which incorporates a technological advance


• Appreciably improving an existing product or process through a technological advance


• Duplicating the effect of an existing product or process in a fundamentally new way. Using existing technology to address new commercial


products isn’t itself R&D – rather, the underlying technology must be advanced. It’s also crucial that the method of achieving the advance


is uncertain. If an expert in the field can easily see how to get over the problem, it’s unlikely to be R&D.


HOW TO ACCESS THE RELIEF The time pressures on those managing SMEs are many and numerous and often there is a feeling that there simply isn’t the time or capacity within the company to undertake an R&D tax claim. This is where working with an experienced adviser can help enormously. The team at Radius has a mix of highly experienced individuals, including an ex-HMRC R&D Inspector with many years of managing enquiries into R&D claims. Together we work with companies to ensure their eligibility and subsequent claim is determined quickly and easily – a short phone call or initial meeting, followed by a longer meeting to obtain the relevant technical information is often the only management time required to produce the claim. It’s also worth remembering that the benefits of a claim


can be significant – how much time would you need to put into your company to generate the same return in terms of post-tax profits? R&D relief is available for far more companies than just


those which employ white-coated staff working in laboratories. Our Radius team works with companies from


The Radius team


a wide range of industry sectors – manufacturing, engineering, software, those working in the rail industry, in healthcare, retail, food – the list is long. In addition, if you use any patents in your company, or


have any technologies, which you might consider patenting, it might pay to receive further information on how your business could pay tax at just ten per cent on patented profits.


62 business network October 2019


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