Green Jellyfish are experts in innovation and R&D Tax Credits
Green Jellyfish are specialists in innovation and helping businesses claim back money that they are entitled to, as most are unaware that they are even eligible. As a business operating in the Furniture Manufacturing Sector, you will most likely qualify for R&D Tax Credits saving as much as 33p back for every £1 spent on qualifying activities, our team of Tax Specialists prepare and submit solely R&D claims, meaning that we are true specialists in the field, and with an average claim value of £48,000 for SME’s can you afford not to.
What is R&D?
R&D stands for Research & Development, this is the process of spending time to create new services, processes and products or updating existing ones. The UK Government has a Tax Credit incentive for this practice, which is designed to boost innovation across multiple industries especially the Manufacturing sector.
R&D Tax Credits make it possible for businesses to reduce their corporation tax bill or receive a refund from HMRC for up to 33% of associated costs with R&D processes, depending on the working hours and resources that a business dedicates to Research & Development.
What We Do
The Green Jellyfish team offer a free, no obligation consultation to check your eligibility. If you are eligible we will require some basic information about your business such as staff numbers, your end of year accounts and a CT600, a predicted figure will then be made for your refund, at this point if you wish to move forward your claim will be submitted. The average turn around from a claim being submitted to the funds reaching your account is 4-6 weeks, however this can be a lot quicker.
Please note our fee is based on the value of the claim and is always contingent upon a successful outcome. In other words no win, no fee!
About R&D in Furniture Manufacturing
The R&D Tax Relief incentive is designed to encourage innovation and increase spending on Research & Development activities for companies operating in the UK. It’s one of the government’s top incentives for encouraging investment in R&D and allows up to 33.35% of a company’s R&D spend to be recovered as a cash repayment.
Some examples of R&D within the sector:
- Designing and developing new or improved products
- Developing prototypes and samples
- Research in respect to materials
- Researching furniture characteristics inc. weight, durability, reducing the carbon footprint, feel and texture, longevity, flexibility, comfort and resistance to a number of factors
- Producing processes inc. designing and evaluating process alternatives, reducing labor costs, Covid measures, reducing manufacturing times etc.
- Publishing and printing
- Transport equipment
This list is in no way exhaustive. If you are constantly seeking to introduce or improve existing products, processes or procedures it is highly likely that you will qualify for substantial financial support from this government initiative.
For your complete peace of mind, we assume full responsibility for the whole process from start to finish, including all HMRC compliance enquiries.
Get in touch as your Furniture Manufacturing Business may be eligible for R&D Tax Credits, contact Tom on the details below to arrange your free consultation now.
Key Contact: Tom Greenwood - Furniture Manufacturing Specialist
Mobile Number: 07591424402
Website: https://www.greenjellyfish.co.uk/
Email: tom.greenwood@greenjellyfish.co.uk
