Fashioning the future
An introduction to R&D tax credits for the fashion industry
What to expect in the briefing?
The immense cultural impact of fashion is well documented, but the story of its contribution to innovation and technological advancement is less well known. From the cotton mill to the Singer sewing machine, the textile and apparel industry has been an engine of human progress since the dawn of time, yet these profound and transformative innovations are often overlooked and not least by the industry itself. As Invennt director, Tim Fitch explains:
Despite perceptions in the sector, the R&D tax credit scheme is aimed squarely at brands that push the envelope in pursuite of innovative product developments, and the British fashion industry is nothing if not innovative. As such, designers can claim back a significant portion of their expenditure on garment construction, textiles engineering and more.
Tim Fitch, Director and co-founder
In this briefing we explore how fashion brands can self-finance innovative product development by availing of the R&D tax credit scheme. The briefing explains the basics of an R&D tax credits claim and provides examples from fashion designers that are already making successful claims.
Why it matters
In the hypercompetitive haute couture space, fashion brands need more help than ever to eke out an edge over their rivals. The R&D tax credit scheme allows designers to claim back a portion of investment in innovative product, process and materials development, enabling improved designs, more efficient processes and enhanced quality. To download the briefing, complete the form and hit the button.
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