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?
By its very nature the sport of motor racing relies upon the constant quest for innovation, to attempt to find ways of improving performance of the vehicles operated. This relies upon a continuous program of researching, developing and testing new theories and ideas. The aim is to improve performance, but not only absolute performance but also efficiency and safety.
What R&D work was completed?
Work was undertaken to develop the chassis, weight reduction and aerodynamics.
What was the outcome?
As a result of the R&D claim, our client received tax savings of £11,213.
