Manufacturers’ organisation EEF has struck a deal with Scottish tax relief specialist Jumpstart to aid firms with their R&D tax credits.
The move will see Edinburgh-headquartered Jumpstart provide advice to EEF members to ensure they secure their full entitlement of research and development tax relief, as well as guidance to those companies applying for the credit for the first time.
The firm said the partnership and advice would benefit “all sizes of business”, from FTSE 100 giants with complex R&D programmes through to small and medium-sized enterprises (SMEs).
Jumpstart will be named as an official EEF “Advantages” partner – joining the organisation’s scheme of third-party providers.
Last year, UK manufacturing companies benefited to the tune of £770 million through the tax credit scheme. However, the EEF – which represents 20,000 companies – is said to be concerned that a “significant number” of businesses are either not taking advantage of the scheme or maximising its value.
Charles Garfit, EEF membership engagement director, said: “Our role is to support UK manufacturers and help them realise their growth ambitions in an ever more competitive environment.
“Investing in R&D is vital to attempts by manufacturers to do just that by increasing their innovation performance and productivity.”
Jumpstart managing director Scott Henderson added: “Building on our significant strength in the engineering and manufacturing sectors, we welcome this opportunity to contribute to the developing dialogue on innovation and we look forward to supporting both large and small companies submit robust claims for tax relief.”