Aberdeen oil and gas companies have clawed back up to £2million from the tax man for research and development (R&D) since the downturn, a firm has claimed.
Jumpstart, which specialises in helping companies claim back cash through R&D tax credits, said £1.2million was recovered from HMRC for north east businesses in 2015, and £840,000 claimed so far this year.
Ian Donaldson, Jumpstart’s client engagement manager in Aberdeen, said: “Aberdeen is a city rich in innovative companies which invest heavily in R&D, and we at Jumpstart pride ourselves on ensuring that contribution is recognised in tax credits. We want to assist these companies re-invest in their own future.”
Making the most of tax credits to fund research and development will also be a key focus at a seminar in Aberdeen later this month.
The Oil & Gas Innovation Centre (OGIC) is holding a seminar on Wednesday 30 November aimed at companies looking to invest in innovation and new technology.
Organisations and companies presenting at the seminar will include OGIC, Anderson, Anderson & Brown, Interface, Scottish Enterprise, Blaze Manufacturing and Hydrasun.
Ian Phillips, chief executive of OGIC, said: “Technology development and innovation are key themes for industry as part of the wider maximising economic recovery agenda in the UK.
“There is a range of support and benefits available to companies investing in research and development and this event will highlight what opportunities are open to them and how to access these.
“Ensuring that businesses receive the relevant support will accelerate the speed at which technological advances are brought to market to address real industry challenges.”
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