EQ tops £16m in R&D tax savings for clients

A tax and business advisory specialist has claimed more than £16 million in research and development (R&D) tax credits for its clients over the past eight years.

From left: Lee Nixon and Roy Henderson ,directors at SP Technology, with David Morrison and Sandi Drummond of EQ Accountants. Picture: Contributed

EQ Accountants, which has offices in Dundee, Forfar, Cupar and Glenrothes, recently secured its 300th claim for R&D tax credits.

The seven-strong specialist team has now faciliated in excess of £16m of tax savings for companies in Scotland.

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These have included £251,000 for a niche engineering business, £185,000 for a textiles manufacturer and £75,000 for a local soft fruit grower.

David Morrison, head of EQ taxation, said: “Many businesses think that R&D tax credits only apply to pure research but there are so many sectors who are entitled to make a claim.

“Businesses need to innovate to stay ahead and, as long as the company is seeking technological advances, they have a strong chance of qualifying.”