Chartered Accountants
R&D – Construction
Sector – Construction
Company Size – £4.3m Turnover
Qualifying Costs – £126,997 (2 years)
Our client is a well-established business based in the East of Scotland that supplies products to the construction industry, including commercial, industrial and residential construction.
What type of work does the company do?
The company started a new project to develop a product for the construction industry that would reduce labour time and costs on installation and would reduce health and safety issues.
What R&D work was completed?
The product that the company was developing would be a higher quality but lower costs alternative to other products offered in the market. Work involved determining the correct combination of raw materials, the volume of each material, and the method of production in order that the end product had the right composition so that it was strong, durable and easier to work with. Work on the project was on-going at the last year end as the company had not yet achieved a product that was consistent and of the required high standards.
What was the outcome?
As a result of the 2-year R&D claim, our client received tax savings of £32,248.
