The SCR Chambers: Sheffield
Sheffield Chamber of Commerce
Support. Grow. Connect. Membership packages
We offer a range of membership packages to suit all sizes of businesses across various sectors. Our benefits package is aimed at providing you with a choice, to accommodate your specific business needs and future strategy.
For more information visit:
www.scci.org.uk R&D tax credits – is your
company missing out? R&D tax credits reward innovation through generous tax relief. An SME incurring £100k of costs could save around £25k in corporation tax.
Which companies qualify for R&D Tax Credits? Is your company an innovator? Innovative companies seek to advance science and technology
Emma Marshall Dan Kirkland
through the resolution of technological uncertainties. Innovative companies may not even know they qualify. Innovation
could include the development of new/improved products or processes, which many SMEs do all the time. The scope of the R&D tax credit scheme can best be seen if we
consider a few case studies from recent successful claims made by the R&D team at Shorts’ Radius (R&D Partners of Sheffield, East Midlands and Barnsley and Rotherham Chambers of Commerce): • A software company developing products to improve cyber security.
• A packaging manufacturer developing innovative packaging solutions.
James Berry Martin McKervey Faaiza Ramji
A welcome to new Non-Executive Board Directors
representing a diverse range of key sectors in the city, sit on the board to provide passion, expertise and support in helping to make the Chambers vison a reality. Sheffield Chamber are delighted to announce that after a rigorous
T
recruitment process, five new Non-Executive Directors will be joining its board of directors from March 2021. Combined with the Chambers existing board members, these new
business individuals will strengthen the boards diverse range of experience and expertise, across a variety of industries. They will help challenge the Chamber to go further and further. To support its members and assist the Chamber in achieving its strategic objectives.
The Chamber welcomes: • Emma Marshall, Operations Director of 3Squared Ltd • Dan Kirkland, Co-founder and Director of Tribepad • James Berry, Partner at Freeths LLP • Martin McKervey, Director of AESSEAL plc and Vulcan Engineering Ltd • Faaiza Ramji, Principal of OnPurpose, a marketing strategy firm based in Edmonton, Canada
Louisa Harrison-Walker, Interim Executive Director at Sheffield Chamber, said: “We are delighted to welcome Dan, Emma, Faaiza, Martin and James to our board. As the Chamber continues to grow and think differently, the recruitment of our new board members is one of many milestones we will achieve, as we work towards building the Chamber of the Future.”
48 CHAMBERconnect Winter 2021
he vision of Sheffield Chamber is to make Sheffield the best place to grow and run a sustainable business. Its executive board plays a pivotal role in driving this ambition forward. Business leaders,
• An engineering consultancy developing design solutions for new products and systems.
• A medical device manufacturer developing new orthopaedic instrumentation.
• A manufacturer of thermoformed components improving heating and cooling processes. All these companies saved £50k+ in tax, with one saving over £500k.
How does the R&D tax credit scheme work? The R&D Tax Credit scheme provides relief of up to 24.7% of a profitable company’s R&D costs through a reduction in the company’s CT liability. Loss making companies can surrender losses to HMRC in exchange for cash credit, typically received within 28 days of submission. Too many companies in our region are missing out on this valuable relief during a period of unprecedented economic challenge.
Get started with R&D Tax Credits today Radius is a unique service designed to ensure businesses receive their full R&D Tax Credit entitlement.
If you work for an innovative company, or perhaps you want to know if your recent projects qualify for R&D Tax Credits, get in touch with the Radius team today to find out more.
www.shorts.uk.com/radius
An SME incurring costs of £100k could save around £25k in corporation tax
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