Tax claim boost for Express Circuits

A MANUFACTURER of printed circuit boards has claimed a six-figure sum under a research and development scheme.

Coleshill-based Express Circuits Group has saved £350,000 over the last few years after taking advice from Jeni Bramley, the tax director for Baldwins Accountants.

The Government has increased rates of relief for research and development, with relief now given at 225%, as part of its drive to improve the competitiveness of the UK’s tax system and to encourage innovation and development.

Express Circuits Group designs, manufactures and assembles circuit boards for various sectors including healthcare, clothing, accessories, children’s toys, defence and integrated electronics.

The relief enjoyed under the Government scheme has allowed the company to inject further money and time into research and development as well as investing in state-of-the-art equipment and staff.

Phil Plant, technical director at the 74-strong Express Circuits Group, has urged other innovative businesses to seek specialist advice to see if they qualify for research and development relief.

“A saving of £350,000 is a significant sum to any business however large or small,” he said.

“Although our previous accountant mentioned research and development relief they gave the impression it would create too much administrative work to be worthwhile making a claim. However, in our first meeting with Jeni we discussed our projects including plans to develop stretchable printed circuit boards and she recommended making a claim.

“I would definitely urge other companies who are also in research and development fields to see if they could benefit because it is a no-brainer.”

Bramley said: “A startling number of businesses believe that progressing a research and development claim is time-consuming and complex and fail to realise that, in most cases, the value of relief available far outweighs the administrative input that is required.”