Chartered Accountants
R&D – Manufacturing
Sector – Manufacturing
Company Size – > £10m Turnover
Qualifying Costs – £549,713
Our client is a Scottish based textiles company which produces products for a highly competitive global marketplace. It uses innovative processes and solutions to allow it to meet its customers high expectations.
What type of work does the company do?
In the year under review, the company undertook a series of projects ranging from the creation of new woven products for the airline industry and sporting goods, to military uniforms and camouflage gear.
What R&D work was completed?
When the company develops a product, it must first assess the market needs and the competitive environment. Once it is satisfied that a commercial product is possible to create, the R&D process starts to consider the initial specification. A mix of material and production processes are then used to create a robust, fully tested and cost effective solution for the relevant sectors. In addition, the company has been reviewing and updating its loom processes to ensure higher quality products can be manufactured and consistently competitive prices.
What was the outcome?
As a result of the R&D claim, our client received tax savings of £122,884.
