Chartered Accountants
Research & Development Claim Settled!
In our experience, Research & Development (R&D) refunds are often used to reinvest for growth and preserve cash flow. During these uncertain times when businesses must do all they can to survive, it is critical to consider all options available to maintain cash inflow.
Recently, our EQ Taxperts completed a R&D claim for a Scottish based specialist spirits provider, which resulted in a client saving of £10,874!
The company is a producer of high quality branded spirits catering for both the wholesale and consumer markets, with locally sourced ingredients and innovative mixes of flavours. They regularly invest efforts into new product development and have brought a number of unusual, cutting edge products to the market.
In the year under review, the company developed a series of new products to take to the market. In doing that, they had to consider a number of factors in producing a product that is saleable, such as:
- Colour
- Transparency
- Taste
- Texture
- Aroma
- Repeatability
- Effect of additives
Specifically for this company, the unique ingredients used mean that they have to test all of their properties under certain conditions as the company seeks to use the minimum of additives, with natural flavours being one of their Unique Selling Points.
Our client has claimed R&D tax credits for several years, and invested its tax savings to assist its push to diversify its customer bank into new overseas markets.
Our dedicated R&D team have saved over £21 million for our clients. Claims may require only 3 to 5 hours of your time and can be done largely over the phone with the likely result of significant tax refunds. We do not tie you into contracts and will do as much or as little as required to help businesses, the important point being to make a claim to generate cash flow.
If you would like to discuss your own circumstances to see if you are eligible to make a claim, please get in touch with David or Ross.
