Chartered Accountants
R&D – Engineering
Sector – Engineering
Company Size – Pre-Turnover
Qualifying Costs – £788,491 (two-year claim)
Our client is researching and developing wind energy technology for offshore installation.
What type of work does the company do?
The work performed by our client is all pre-revenue and is primarily engineering conceptual work and design studies. The turbine and infrastructure design being pursued would result in lower build, installation and maintenance costs over the life-span of the turbine.
What R&D work was completed?
In the years under review, our client designed, constructed and tested a prototype two-bladed turbine. This prototype was vastly different to any other turbine of a similar scale. Design certifications were obtained following from this proof of concept. Simultaneously, other workflows were researched and developed for the next phases of the overall development.
What was the outcome?
As a result of the R&D claim, our client received tax savings of £156,386.
