Released: Wednesday 22nd April 2020

During these times we understand cash flow is more critical to businesses right now than ever before. One area you may wish to consider is whether your current R&D tax credit claims are optimised and you are taking full advantage of the full benefit available to you. HMRC have recognised R&D tax credit claims may be critical to businesses cash flows during these times and they are putting in place plans to ensure the swift processing of payments.

EY have a specialist Innovation Incentives team made up of scientists and engineers. They have a team of more than 90 individuals and have assisted a number of clients in the life science sector in Scotland in preparing R&D tax claims. The team would be happy to offer a free R&D tax claim “Health Check” to all SLA members to share their insight into making claims and help understand if your current claims are fully optimised through an initial discussion and benchmarking of your current claim values.

This would be free to all members.

In addition, the team also support companies in applying for cash grants. Cash grants remain an attractive source of funding in that they are non-dilutive and non-repayable. Furthermore, as a response to the COVID-19 crisis, we are seeing an increase in COVID related grants such as the current UKRI grant to address research into mitigating the impacts of the crisis. The team would also be happy to share further information in how they could help your business apply for cash grants and make sure you are considering all the funding options available to you.

Again this would be free to all members.

If you would like more details please contact Chris Webster and Kay Greenshields