Chartered Accountants
R&D – Oil & Gas
Sector – Oil & Gas
Company Size – £5m Turnover
Qualifying Costs – £389,223
The company is an oil & gas services sector supplier, providing design solutions to the offshore market.
What type of work is the company carrying out?
The company has a number of different product lines which it offers to various subsector of the oil and gas market. It operates a workshop in order to develop product prototypes and then tests these products sometimes remotely but sometimes offshore.
What R&D work was completed?
The company designed a brand new, innovative control cabin for delivery in the offshore market, either as field work on site but also, importantly, as part of the decommissioning function. The company designed the prototype, tested it in house and then undertook on site tests to ensure a reliable, efficient solution was provided. In the year under review, several other design, build and test projects were undertaken
What was the outcome?
As a result of the R&D claim, our client received tax savings of £97,305.
