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 Taxperts completed a R&D claim for a construction supplies company, which resulted in a client saving of £53,805!
The company supplies products to the commercial, industrial and residential construction industry and continually develop their existing products to ensure they are of higher quality and more durable than others available in the market.
In the year under review, the company continued projects from the last year end that had not yet achieved end products that were consistently of the high standards that they required, with different challenges to overcome in each project.
The main theme of the projects were to ensure that the end products were uniform between different batches and the effects of seasonality were eliminated. Work was also undertaken to determine the optimum raw material combination, the most effective production process, and review alternative ways of eliminating the impact of weather conditions on production and durability of the end product.
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.
