Every year thousands of companies throughout the North West are missing out on tax reliefs worth millions of pounds for the innovative research and development work they conduct.

Given the significant amount of tax relief that goes unclaimed, Manchester and Wilmslow-based accountancy firm, Ascendis, is reaching out to companies to advise them on the generous support available via the R&D tax relief scheme.

The firm’s experienced tax team is hoping to educate a wide range of companies, across multiple sectors, on the significant tax savings and refunds that could be made by claiming the relief.

That is why it has produced a detailed guide outlining the benefits of the scheme, the R&D expenditure against which a claim can be made and the eligibility criteria for this tax relief scheme.

“Myths continue to persist about the R&D tax relief scheme that suggests that only the most innovative and technologically advanced business can make a claim, but this isn’t the case,” explained Ascendis’ Tax Director, Andy Wilson.

“Many companies may be eligible to make a claim and simply don’t realise it. During a period where the cost of running a business continues to rise, these tax incentives for companies developing new services, products or processes could help to shave tens of thousands of pounds off a tax bill or offer a direct cash tax credit to support investment.”

The team at Ascendis are keen to support as many companies as possible with their claims to make sure they make the most of the current R&D tax relief schemes.