Monday 18th December 2017
Home General Business News Campaign launches to prompt manufacturers to take up R & D tax credits

Campaign launches to prompt manufacturers to take up R & D tax credits

E-mail Print PDF

An initiative to encourage manufacturers in the East of England to invest in innovation by taking advantage of HMRC R&D tax credits is being launched by EEF and an R&D tax relief specialist, Jumpstart.

The campaign aims to prompt food and drink producers, the region’s largest manufacturing sector, to use the scheme and explore other sources of innovation. Last year UK manufacturers saved £770 million through the R&D tax credit scheme and it offers scope for reinvestment in new plant & equipment, staff or innovation. The latest EEF manufacturing survey showed confidence in the sector in the East of England remained good and order books healthy with firms still planning to recruit but also pointed to a 12 per cent negative swing in terms of investment since Brexit.

David Fagan, EEF regional manager for East of England, said: “This partnership will be critical in helping companies navigate the complexities of the process of applying for the R&D credit. It will ensure that those companies already benefiting can maximise their entitlement, as well as enable those encountering the process for the first time to achieve a smooth route through it.”