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 2-year R&D claim for a Scottish based food manufacturer, which resulted in a client saving of £73,796!
The company is a producer of healthy snacks, they use vegetables and other natural ingredients to develop a series of different products.
In the years under review, the company formulated a recipe for a brand new product, ensuring it was nutritious but also tasted good and appealed to consumers. In determining the ingredients the company also aimed to eliminate waste produced in the process. Time was spent overcoming technical and process issues using different ingredients to achieve a product with all the desired attributes. Work was also undertaken to diversify the range of products to include different raw ingredients as the main component and to achieve different nutritional benefits.
Our client will use their tax savings to continue to fund further development of their healthy snack production.
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.