17 Aug R and D Tax Specialists Encourage Motorsport Companies to Review R&D Funding Benefits
MIA member, R and D Tax Specialists Limited, shared the following press release:
Motorsport companies encouraged to review funding benefits of the government’s R&D tax relief scheme
15 August 2026 – Leading R&D tax relief advisors, R and D Tax Specialists Limited, are encouraging motorsport companies to fully review the funding benefits of the government’s R&D tax relief scheme .
The MIA is presently reporting that many of its members are concerned that there is currently not enough relevant support provided to UK businesses, specifically in the motorsport sector, which they feel is not recognised sufficiently by government. Whilst the thrust of the concerns are related to the complexities of accessing government grant programmes, many eligible companies still may not be claiming R&D tax reliefs, or not receiving the full benefit they might be due. For companies undertaking genuine, qualifying development work the R&D tax relief scheme continues to offer valuable funding benefits.
According to latest HMRC statistics, the value of R&D tax reliefs has increased for larger companies, however, the number of SME claims has reduced significantly – these are the scale of companies most represented in the motorsport sector.
Garry Hague, Managing Director at R and D Tax Specialists, said: “Unfortunately, industry research suggests that measures introduced by HMRC to tackle alleged abuse of the R&D tax relief scheme appear to be having unintended consequences for companies involved in genuine R&D, particularly SMEs. Following introduction of the latest HMRC measures, many companies are reporting that they have cancelled research initiatives, paused investment plans, and reduced skilled headcount as a result of adverse publicity around the scheme.
“We are concerned that this may be the case for many SMEs involved in motorsport. Clearly MIA members have genuine concerns over government support for the sector, but our message is: please don’t rule out the R&D tax relief scheme. It has now stabilised and remains a highly attractive financial incentive for company’s engaged in qualifying development work.”
Under the merged R&D expenditure credit (RDEC) scheme, each £100,000 of qualifying R&D spend will generate between £15,000 and £16,200 of tax relief, payable either as a cash refund, or credit against corporation tax.
For companies that are R&D intensive, where more than 30% of their costs are expended on R&D work, the claim value can be up to £27,000 for each £100,000 of qualifying R&D spend.
Garry Hague, said: “We understand that companies may be put off by HMRC’s changes to the scheme and it may appear complex to apply for this tax relief. We have over 16 years’ experience in the scheme and are happy to provide a no obligation assessment of a company’s viability for making a successful claim. We can also assist with all aspects of the work to compile and file the required documentation. Please contact us on 01327 317947 / [email protected]“