Heavy industry can often be seen as lacking in the technical expertise that involves R&D Tax Credit qualifying research and development activities. We have also discovered that often our customers in engineering companies often believe that because R&D is covered by the fees paid by the customer, and so any R&D costs incurred may be ineligible for an HRMC tax rebate.
However, these are both misconceptions and with the right expert support there are often substantial claims to be made. We had to persuade the Quality Castings directors that it was very worthwhile to pursue a claim and that the benefits could be realised simply, with the right professional advice.
Working with the Quality Castings team, on site and remotely, we identified a number of tax credit claim opportunities ranging across their technical design, founding and finishing processes.
Contrary to what the management team had expected, we identified that any amends made to tool designs supplied by their customers are eligible activities. We also uncovered a substantial amount of testing activities, not covered by management fees that also matched the HMRC criteria for a successful claim.
Using our intuitive claims portal and with an ever-confident customer who now understands how to optimise their R&D record keeping we have been working with Quality Castings for over 5 years of successful claims. The valuable reclaimed tax has been invested in a wide range of new capital equipment and Quality Castings’ new IT infrastructure.
If you’re a small to medium company in the UK, you could also be claiming back up to £33 on every £100 spent on R&D. The work you do that qualifies for the R&D tax credits scheme — often embedded in the day-to-day running of your business — may surprise you.Get in touch
Find out what our clients and partners have to say about the R&D tax relief experience and how we’ve helped them.