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 company that supplies products to the construction industry, which resulted in a client saving of £22,491!
The company provides state-of-the-art supplies to the construction sector including the commercial, industrial and residential.
The company has been working to develop a product that would be of higher quality but a lower cost alternative to other products offered in the market. Work involved determining the correct combination of raw materials, the volume of each material, and the method of production in order that the end product had the right composition so that it was strong, durable and easier to work with.
In the year under review, the company trialed the effects of seasonality on the quality of their end product, thus ensuring a consistently high quality product could be produced all year round. They also did further trials to assess different raw materials, including new materials to the market that may provide a solution, and on reviewing the manufacturing process to resolve any issues being encountered.
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.
