Research & Development Claim Settled!
In our experience, Research & Development (R&D) refunds are often used to reinvest for growth and preserve cash flow. At a time 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 an engineering client, resulting in a client saving of £44,893!
The company specialise in the design of products utilising high level fibre optic cabling primarily in the oil & gas markets and telecommunications sector.
This claim marked the company’s third R&D claim and in the year under review, they developed a series of cable based solutions including designing a cable that was required to operate at extreme depths of more than 1,000m, was durable yet flexible, and can be produced at a reasonable price. In addition, the company delivered a lightweight cable for the 5G rollout in the UK.
The company used its tax savings to invest further into staff development and product diversification.
Our dedicated R&D team have saved over £23 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.