25 February 2020 | ABGI
ABGI, the UK’s leading innovation funding specialists, has announced it is now offering free advice and support on R&D tax relief claims to companies investigating ways of combatting the coronavirus to meet the nation’s current healthcare needs. The move comes after the UK Government called on manufacturers to look into switching their production capabilities to produce much-needed ventilators for UK hospitals, personal protective equipment for NHS workers, virus testing kits and hand sanitisers to meet the unprecedented demand.
Last week, Aberdeenshire-based brewers BrewDog began making hand sanitiser, which it promised to give away for free to those who need it. Meanwhile UK manufacturers including Vauxhall and Airbus are planning to 3D-print parts for ventilators.
For some manufacturers, adapting production processes will require some initial R&D expenditure. To help support this activity, ABGI will offer its services completely free of charge to ensure those making this investment to help tackle the current public health crisis can also secure maximum qualifying tax relief from the process. This includes providing free consultancy on incentives available to make the switch, reviewing a manufacturer’s activity plan to ensure it will qualify for R&D tax relief, and developing and submitting their claim to HMRC.
Scott Henderson, Chief Executive of ABGI UK, commented: “As BrewDog and other manufacturing businesses have shown, companies are prepared to step forward as the Covid-19 outbreak grips the UK. As an advisory business, we also have expertise and experience which can help in this battle by making adaptation easier and more cost effective for those manufacturers. We are keen to offer our expertise completely free of charge and without obligation to these companies. This includes helping them identify the available R&D incentives to assist with production transition, assessing their eligibility, and handling their claim to ensure they secure all the tax relief they are entitled to."