The motorsport industry is at the core of advanced technical and scientific enterprise in the UK, continuously engineering innovative, world-beating products.
When it comes to investment in research and development as a percentage of sales, it is common misconception that the pharmaceutical industry leads the way at around 14%.In fact the corresponding figure for the motorsport industry is over 30%.
Now Jumpstart, the UK’s leading R&D tax credit specialist, has joined the MIA in order to help members to secure the funds to which they are entitled, funds which can be used to bolster ongoing engineering budgets. One of its senior business analysts, Patrick Carr, will be able to advise on successful R&D tax credit submissions. As he points out ‘The government is fully aware of the contribution that the industry makes not only in terms of exports but in terms of engineering prestige on the world stage, particularly when set against an overall decline in volume manufacturing. They have the mechanism in place to encourage and reward innovation. It is a case of taking advantage of it’.
However, taking advantage of it does require specialist skills. There has to be a thorough understanding of the technical processes involved and an equally in-depth understanding of the complexities of the legislation. Jumpstart is solely focused on presenting detailed, accurate and compliant submissions to HMRC. It employs analysts with the scientific and technical knowledge to identify and justify projects that are eligible for submission and it deals directly with the technical staff involved in order to extract the relevant information.
After guiding the process through HMRC, Jumpstart secures, almost without fail, a tax benefit for the company in the form of a cash credit, a tax rebate or an enhanced deduction that can be set against future taxation. Its track record is second to none with a 98.6% success rate.
Jumpstart will be holding a workshop at the Autosport International show at the NEC in Birmingham on Friday January 13th 2012 , details of which can be found here.
For further information, contact Brian Williamson at Jumpstart, 3 Melville Crescent, Edinburgh EH3 7HW T: +44 (0)131 240 2900 F: +44 (0)131 226 4506 E: helpinghand@jumpstartuk.co.uk W: www.jumpstartuk.co.uk
Or contact: Patrick Carr, M: +44 (0)7747 036390 E: Patrick@jumpstartuk.co.uk
