R&D tax credits in the retail industry
Retail is one of the UK economy's largest and most critical industries. Retail R&D tax relief claims totalled over £400m in the financial year ending 2021, comprising over 9,500 claims with an average claim value of £42,000*. The Governmental-funded scheme encourages innovation within the retail sector by offering rebates or tax relief of up to 33% of qualifying expenditures.
Thousands of retail and wholesale businesses develop software and solutions to improve efficiency, throughput and automation. The cost for carrying out this research and development, most commonly where off-the-shelf solutions are adapted for specific applications, could be eligible for R&D tax relief, offering enormous savings on your pending tax bill.
Crucially, your project does not need to have been commercially successful to be eligible to claim against.
Not all development activities qualify under the R&D tax credit scheme, so knowing what expenditure is eligible is critical. This is where our specialist consultants come in. We'll do the legwork and uncover every penny of eligible expenditure across your projects that might have addressed issues regarding logistics, efficiency, supply chain management, stock control, automation, security or many other challenges.
By using Yuzu Group as your R&D tax credit claim specialists, you will achieve maximum benefit from the scheme and reward your risk and innovation.
