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Apparel & Textiles R&D Tax Credits
The technical textiles sector in Britain has witnessed fascinating innovations on the global stage, making it crucial to incentivise and support it through R&D tax incentives.
R&D Tax Relief in the Apparel & Textile industry
Faced with ever-encroaching competition from emerging economies, innovation is central to the technical textiles industry, to remain cost-efficient and competitive. Companies are constantly researching and developing ways to manufacture textiles faster, with better quality and for less money. This can include automating processes, eliminating waste, recycling waste material, and many others.
It is extremely important for this innovation to be encouraged and rewarded through R&D schemes. Companies can claim R&D tax relief for qualifying costs incurred during R&D activities, which may include staff costs, consumables costs and materials used in R&D.
Examples of qualifying activity for R&D Tax Relief
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✓ Creating or developing new textiles, fabrics or materials with unique properties.
✓ Research on innovation in fibre, yarn, finishes and other materials.
✓ Altering an existing fabric for a new purpose.
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✓ Developing fabrics for the healthcare industry.
✓ Developing alternative, and appreciably improved, manufacturing processes or improving the existing production processes.
✓ Adapting to changes in legislation or industry requirements.
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✓ Developing textile or fabric with alternative, and appreciably improved, properties.
✓ Researching the amount of waste and better ways to reduce it.
✓ Experimenting with material combinations never used in the industry before.
Our customers say…
Visiativ put their clients first every step of the way. They have a dedicated Customer Services team, which keep you on track to complete the documents in time for your deadline and are on hand to help every step of the way, to provide a complete service from start to finish.
Duncan Weisters, Managing Director DHJ, Weisters Ltd
How Visiativ can help you
R&D tax credits can provide significant financial rewards to companies in the textiles sector.
At Visiativ, we can help your company make robust, successful, compliant R&D tax relief claims. Our team of technical experts understands the regulations and guidelines specific to claiming R&D tax relief in the textile sector. We know what to claim, how to claim and, perhaps most importantly of all, the many pitfalls to avoid.
