Chartered Accountants
R&D – Motorsport
Sector – Motorsport
Company Size – £450k Turnover
Qualifying Costs – £59,010
Our client competes in UK motorsport at a high-level.
What type of work does the company do?
The company continuously develop and make improvements to their cars to improve speed, efficiency, steering, braking, etc. All of which lead to faster lap times and enable them to compete effectively.
What R&D work was completed?
Work was undertaken to resolve understeer issues, focusing on traction under cornering and enable the car to take corners faster whilst also being safer and reducing wheelspin which leads to faster tyre wear and a noticeable drop in performance and reliability of the tyre.
What was the outcome?
As a result of the R&D claim, our client received tax savings of £14,317.
