How Shencoh can help you keep going
The UK is watching as lockdown eases across the nation. Unfortunately, the pandemic has met businesses with closure due to financial inadequacy. In short, Coronavirus has set the economy back. Read on to discover why HMRC research and development tax relief is in your best interest for business development.
An important factor, for closures, has been the safety and wellbeing of employees. Remote-working has proven difficult across sectors; some adapted and some have seen closure. These closures have incurred financial casualties, such as being burdened with deadstock and others with survival issues by not utilising e-commerce strategies.
However, as a nation, we have been reassured support is readily available. The government are offering a variety of loans to sustain the UK economy throughout the pandemic. Furlough, support for those who cannot work, has proven to be helpful. But similarly to the loans available, the catch is time – of course, these loans must be paid back, albeit, with minimal interest, the furloughed are seeing a decline in their necessary aid
Are there any who are active in innovation during these Arduous times?.
Although you may have noticed, not all have befallen the fate of the virus, some have advanced. Businesses such as ButteflyNetwork Inc. developed mobile-friendly ultrasound technology, in efforts to aid telemedical practice. Articles describe Sony has advanced camera technology, to maintain AI processes at camera body, securing better privacy. There have been significant advancements in electrical-vehicle technology too. Swedish car manufacturers Volvo have collaborated with Luminar Tech in efforts towards bringing automated driving cars from sci-fi to reality.
Now, you may be asking,
“What does Shencoh have to do with financial support? Why talk about development and innovation in technology when it requires finances?”
Shencoh is one of the leading R&D tax specialists in the UK. An incentive backed by HMRC, this is a process which will add value to your business and further help towards business development.
HMRC R&D tax scheme began in the year 2000. For the last 20 years, approximately 240,000 claims have resulted in businesses being awarded up to 21.4 billion in tax relief. Unlike loans, this finance once attained, is not paid back to HMRC.
Meaning, this alternative funding will aid your business in the continuation of innovation during these arduous times, without having to worry about a financial deficit when returning back to your business.
Working with Shencoh is value for you and your business
With Shencoh, businesses have the tenor to make claims more than once, due to the substantial effort implemented into facilitating claims. Working with clients, not just through the process of applications, Shencoh continues the same efforts later, in clients successive financial years.
Value is implemented & distinguished in areas where it can be applied. Regularly seeking methods to advance growth, businesses face the cost factor, which results in hindering the desired growth. However, working with Shencoh is an encouragement towards this craved growth. With strong technical prowess in-house, efficiency and refined process applied, we can ensure your claim is 100% maximised and protected from risk, to attain the most significant yields. With this maximised claim, you will be unconstrained to achieve that deserved growth.
Carelessness and poorly processed claims result in thousands lost in reward benefits. Competitors frequently face this issue due to lack of in-house professionals. At Shencoh, the extra mile is fulfilled, with the 6-step process. This successful process involves highly experienced professionals, in all relevant fields, to ensure the best return for any R&D claim.