R&D Tax Credits for healthcare services: over £37,000 in government funding claimed by medical equipment company under HMRC scheme.
This case study concerns a Research and Development (R&D) claim made successfully by a client in the healthcare sector.
The client made their successful claim in connection with two medical advancements in the period of 2015-2016.
The client developed a device for Endoscopic Cyclophotocoagulation (ECP); laser surgery for the treatment of glaucoma. They also made advancements with multifocal intra-ocular lens implants. These are mono-focal and multi-focal folding lens replacements for cataract sufferers.
Challenges included demonstrating the safety of the equipment and supplies through systematic research and double blind trials against existing solutions. Furthermore, the client had to overcome the reluctance of a conservative audience (the medical profession) to stray beyond their existing comfort zone.
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At R&D Expert, we are increasingly identifying many companies working in the sector that could benefit from this important source of funding. Many more businesses can increase funding for further innovation by claiming as much as they are entitled to in R&D Tax Credits for Luxury Cosmetics product development.
Unfortunately, due to confusion over the government-backed funding, many companies are yet to claim the tax relief or cashback they deserve. We generally see businesses falling into two categories. First of all, businesses that are yet to claim at all as they do not realise they are eligible. In another common scenario, businesses do not receive the credit they deserve because they have not optimised their previous claims. However, we have many examples of previous success stories. So, it is always worth speaking to a Specialist. Because only the minority of cases are straightforward.
How do I know if my healthcare services company could claim R&D Tax Credits? Consider:
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We are here to help. If you would like to know more about R&D Tax Credits for healthcare services or you would like to arrange a free consultation with our team of R&D Experts, get in touch today. We will be happy to discuss whether any innovative projects your company has developed may be eligible for R&D Tax Credits. Apply now or get in touch with us today: firstname.lastname@example.org T:0333 050 3995.