Companies are urged to claim back tax for R&D

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COMPANIES in the Portsmouth area have shown they are outshining the rest of the UK when it comes to making tax savings, according to R&D tax relief specialist Jumpstart.

With an increase of 37 per cent year-on-year in the total R&D tax credits claimed in 2014-2015, analysis of HMRC figures shows that south east companies accounted for 17.9 per cent of total claims and 18.5 per cent of the total tax benefits claimed.

Garry Keith, manager at Jumpstart, said: ‘These figures are encouraging to see, but I feel there is room for more uptake of HMRC’s R&D tax relief scheme.’