Chartered Accountants
R&D – Automotive
Sector – Automotive
Company Size – £750k Turnover
Qualifying Costs – £92,000
Our client is one of the leading garage service equipment providers in the UK, that continues to innovate and supply technical solutions for the automotive aftermarket.
What type of work does the company do?
Our client is developing a number of potential products for the automotive aftermarket. The core products focus on equipment for servicing the braking system that will perform to a higher standard than the existing products on the market.
What R&D work was completed?
During the year significant time and effort has been spent to develop the new braking system products as well as a number of other products that could be sold to a number of well-known car manufacturers. With views towards cars and vehicles changing rapidly with the introduction of electric vehicles, the aftercare market needs solutions to new challenges and uncertainties. As a result, our client is spending it’s time research and developing solutions.
What was the outcome?
As a result of the 2-year R&D claim, our client received tax savings of £17,500.
