R&D in Art
Industry Spotlight
How might an art company benefit from R&D tax relief?
In the ever-evolving world of art, creativity and innovation go hand in hand. Art companies constantly strive to push the boundaries of artistic expression, explore new techniques and captivate audiences with unique creations.
Research and development (R&D) plays a vital role in this pursuit, enabling art companies to experiment, invent and evolve. From exploring new art styles and materials to embracing technology and expanding marketing strategies, R&D empowers art companies to thrive in a dynamic and competitive industry.
Some examples of projects and activities that could qualify for research and development tax relief include:
R&D can be used to explore collaborations with other industries, such as fashion or technology, to create new and innovative art projects.
An art company can use R&D to explore new methods of creating art, such as new painting techniques or new ways of sculpting.
R&D can be used to explore new business models for selling and distributing art, such as using blockchain technology to create secure digital art marketplaces.
R&D can be used to create new software tools for digital art, such as new drawing and painting apps or new tools for animation.
R&D can be used to develop new marketing strategies to promote artwork and reach a wider audience.
R&D can be used to explore new ways of displaying art, such as using virtual or augmented reality to create immersive art experiences.
R&D can be used to explore the intersection of art and technology, such as using artificial intelligence to create art or creating interactive installations that use sensors and other technology.
R&D can be used to explore the use of new materials in art, such as using 3D printing to create sculptures or experimenting with new pigments.
Art companies may use R&D to improve the conservation techniques for preserving artwork, such as developing new methods of cleaning or repairing damaged artwork.
Doing anything innovative or industry advancing?
Get in touch today to book your FREE discovery call.
Has your company engaged in this type of activity in the past?
If you believe your art company could benefit from R&D tax relief, please do not hesitate to contact us today.
Our team of experts is here to help you navigate the complexities of research and development tax relief and ensure that you receive the maximum benefit for your innovative work.
Get in touch today to book a FREE discovery call.
R&D Tax Relief
From initial discovery call and information gathering through to claim preparation, supporting documentation and submission. We're your expert partner in R&D tax relief submissions.
RDEC
For larger companies we can support claim preparations under the RDEC (Research & Development Expenditure Credit) scheme, ensuring robust, defensible and maximised claims .
HMRC Enquiry Support
We'll liaise with HMRC on your behalf, ensuring no unnecessary delays on receiving your claim and no unfair reductions. This service is provided as standard for our clients.
R&D Claim Review
If you're making an R&D tax relief claim, our team can help ensure you're compliant with the latest legislation and identify any potential claim uplift. Speak to our team for more information.
Partner Program
If you work with innovative businesses and you're interested in partnering with us to ensure your clients are maximising their R&D tax relief, speak to our partner program lead.
Accountancy Services
Through BC&A Chartered Accountants, we offer a range of accountancy services including company formations, business planning, taxation and compliance services and more.