Josh has compiled and managed numerous R&D applications from companies in the print industry, ranging from print management firms to multi-million pound print houses. He has personally written up projects which detail the enhancement of manufacturing efficiencies, the development of new packaging solutions and integrating of internal software programs. His experience in the sector enables him to identify all qualifying activity and maximise a print business’s application.
The printing industry is subject to constant innovation, with improvements to efficiency, quality and sustainability all regularly contributing to sector-wide advancements in science and technology. Many of these advancements are achieved through daily business operations and are not seen as R&D projects by the company.
The ever-growing importance of environmental responsibility is also incentivising innovation the sector; many printers are modifying their manufacturing processes, or experimenting with new eco-friendly substrates and inks, to reduce the impact their organisation has on the environment.
Despite the regular investments in innovation, the printing sector is often overlooked when it comes to R&D tax credits and many eligible companies are unknowingly missing out on generous tax reductions and cash injections.
This can, in part, be attributed to an unawareness of the scheme itself, although this issue impacts almost all sectors. Even as awareness of the incentive grows, many businesses operating in the print sector are yet to submit an R&D tax credit application.
Based on our experience with commercial printers, it has become clear that a significant portion of those in the industry are aware of the incentive, yet do not believe they qualify for R&D tax relief. As a result, there remains a skewed perception of the mechanism in the sector which only serves to hinder eligible organisations.
When looking at the activities that commercial printers regularly undertake, it becomes clear that there is an abundance of eligible R&D in the printing industry. Some examples of eligible activity, that are often just considered “daily business”, include:
- Experimenting with different substrates, inks and primers
- Increasing the efficiency or effectiveness of manufacturing equipment through modification
- Attempting to improve production processes by reducing wastage, through manipulation of manufacturing parameters
- Trialing new eco-friendly materials or production processes
- Developing print with key technical properties (reflective, glow in the dark, anti-bacterial)
- Attempting to improve the detail of print, quality of finish or speed of printing through trial and error modifications
- Integrating software systems to improve back office efficiency by automating key processes
If your print house is conducting any of these activities, you can likely benefit from R&D tax credits! Our team have plenty of experience with R&D in the printing industry and utilise a refinied approach designed to take all the heavy lifting away from you. If you’re unsure about whether or not you’d be eligible, get in touch; we are here to help.
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