NORTH East businesses could be missing out on tens of thousands of pounds of research and development tax credits each for their innovative ideas.
Independent accountants and business advisers, Clive Owen LLP, say the region is home to hundreds of forward-thinking companies working in the manufacturing, technology and environmental sectors – but not all are taking advantage of the tax credits.
The Government backed scheme gives companies tax relief on 230% of what they spend on research and development.
Now Clive Owen, Teesside University, and Redcar and Cleveland Council are hosting a free breakfast event on Tuesday, February 9, to explain how businesses can claim R&D tax credits and how they qualify.
Nicola Bellerby, a partner at Clive Owen, said: “We’re holding this event in Teesside because it’s an area which has been blighted by company closures and jobs losses yet it is filled with skilled workers.
“R&D tax breaks often make all the difference to a business and enable them to have the funding to continue carrying out research and innovative projects and to take on more skilled staff.
“They give businesses the opportunity to develop ideas into reality and to support their own company growth and ultimately the economy of the North East region.”
The Innovation for Growth event will be held at Redcar & Cleveland Borough Council’s offices in Redcar, at 8am.
For more information contact Margaret Gill on 01325 349700 or email info@cliveowen.com