R&D Tax Credits are a very niche part of the UK tax code that could
bring your company thousands of pounds in tax relief.
Medical & Pharmaceutical
The pharmaceutical and medical industries use research and development every day to produce new products and push scientific boundaries. This area is clearer than most sectors for spotting R&D Tax Credits.
R&D activities within the Medical and Pharmaceutical sectors include:
- Creating or developing new products
- Adapting to changes in legislation or industry requirements, including energy efficiency
- Testing and maintaining products in line with strict health and safety guidelines and UK legislation
- Adapting equipment or processes for new types of research
- Trialling chemicals / materials used in production
- Overcoming uncertainties such as drug storage, temperature conditions and other external factors
- Develop new products and push scientific boundaries
A Hucknall-based pharmaceutical company have received a first-time claim of £32,000 in R&D tax credits with the help of randd. The company develop and manufacture high-quality reusable incontinence products for adults and children using British materials.
A highly skilled workforce produces extremely practical, cost effective and, in many cases, fashionable products. Research and development is vital to develop ways to produce garments cost effectively to ensure the comfort and performance elements developed within the prototype products, which are wholly developed by the company, are not compromised when upscaled into quality, market ready, high-performance products.
This required in-depth research to achieve solutions that have included trials, prototypes and problem solving; all activities which are eligible under the R&D Tax Credits scheme.