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 food manufacturer, which resulted in a client saving of £34,884!
The company is a well-established ready-meal manufacturer, supplying both chilled and frozen products to both retail and food service markets. They continually seek to expand their range and offer innovative food products to customers, in addition to seeking to improve production processes and efficiencies to offer higher quality products.
In the year under review, the company continued developing new cooking and manufacturing processes with the aim of improving efficiencies and producing higher quality products, including methods of reducing cooking times, energy consumption and waste, which would also create environmental benefits, and also reviewing alternative recipes and raw ingredients.
They also worked on developing new products and recipes to expand their range, including vegan and healthier alternatives for some of the company’s existing products. As there were specific markets in mind for these products, they had to meet certain criteria in terms of nutritional values, flavour, packaging and shelf life.
Our dedicated R&D team have saved over £22 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.
