truck hydraulic

Company overview

Founded in 1998, Truck Hydraulics Ltd are renowned industry figures, providing innovative and bespoke hydraulics product technologies, quality services, design and manufacture solutions, and facilitating the allocation of spare parts.

Sector: Manufacturing
Location: South Yorkshire
 

Challenge

Truck Hydraulics were introduced to Easy R&D via a referrer. We are finding that the industry that the company operates in, such as lorry backs, is one where many operators are investing in research and development but are unaware that they qualify for tax relief on their projects.

Our first discussions with the company centred on the R&D tax credits scheme, explaining what types of companies qualified and highlighting what types of R&D costs were considered as part of the scheme.

At first, Truck Hydraulics were sceptical about their R&D project satisfying the criteria which HMRC have set to qualify for tax relief. So the challenge was to convince the company that their R&D did indeed qualify.

Solution

Subsequent to our discussion was an on-site visit to Truck Hydraulics by one of our Sales Consultants to discuss their R&D activity in more detail and to explain how much input would be required by them. Our aim is to provide a flexible service and minimise the time commitment for our clients as we know they are time restricted in their day-to-day jobs.

In addition we discussed the process of submitting their R&D project related costs via our Claim Portal.

The accounting data was submitted onto our Claim Portal with an accompanying Technical Report written by one of our specialist Report Writers. We then notified Truck Hydraulics of the estimated claim value which they were likely to receive, which they were very pleased with.

Working with Darren who explained how our activities qualified for tax relief, and simplifying the claim process for us has been invaluable. We’re really happy with the claim we received and have referred Easy R&D to other clients.

Kristian Jones, Founder
truck hydraulics with cloudy skyline

Benefit

Truck Hydraulics were extremely surprised at the value of the claim which they received from HMRC, which matched the value we had estimated.

As a result of the successful outcome, the company have become a referrer and have introduced two clients to us including a crane manufacturer and a lorry-based builder. So it has become a successful relationship which we value highly.

We have also learnt that claims from the Manufacturing industries can be of high value.

If you’d like to enquire about claiming tax relief on your R&D projects, please contact us for a free consultation.