R&D Tax Relief Supports e-Commerce Website Innovation
The UK’s e-commerce sector continues to go from strength to strength. According to figures published earlier this year by Ecommerce News Europe, business-to-consumer e-commerce turnover in the United Kingdom is on course to reach over 200 billion euro by the end of this year, an increase of nearly 15 per cent compared with last year.
16 January 2020
Lancashire is contributing to this growing sector with an increasing number of new technology-focused businesses flourishing across the county, such as Burnley emerging as one of the UK’s ‘Tech Towns.’
Modern e-commerce systems are transforming local economies here in Lancashire and other parts of the UK as almost anyone can now transact online. However, setting up and maintaining a large e-commerce operation can often be a costly and complex undertaking with huge technical challenges. It is here that incentives such as R&D tax relief can play an important role in supporting businesses seeking to innovate their online capabilities.
The UK Government’s R&D tax relief scheme offers innovative companies up to 33p relief for every pound spent on qualifying R&D (dependant on the company status and its financial position).
Given the attractive tax rebates on offer, it is not surprising that HMRC has been increasingly scrutinising R&D tax relief claims. It is therefore essential for companies to focus their efforts on the appropriate areas if they want to help ensure their application is successful.
Article originally published on Digital Lancashire