Latest Success Stories – £204K awarded to six clients

£204k awarded to six clients

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Next month will mark an entire year since we first went into a national lockdown in a bid to control the spread of the coronavirus. No one could have foreseen the effect the pandemic would have on businesses and our personal lives alike, and it is still difficult to comprehend the scale at which businesses have dropped revenue and individuals have lost their jobs and financial security.

It doesn’t have to be all bad news though. Even during these times of economic uncertainty and austerity, there are still ways that business owners can improve the cash flow of their companies through cash injections and financial aids. With the national lockdown due to extend well into the Spring, now is the perfect time to consider your firm’s financial options whilst you cannot operate at full capacity.

One financial aid that often gets overlooked is R&D tax credits- an incentive provided by the UK government to encourage business growth and stability. Many business owners believe their firm doesn’t do the right type of R&D to qualify for a cash award which has led to millions of pounds lying unclaimed. If you are an innovative business that seeks to improve its products, processes and services or creates new ones you could be eligible for large cash rewards.

To ensure you are maximizing your claim in the minimum time and that all of your eligible R&D activities are recognized and included within your claim, it is best to seek expert advice from R&D tax credit specialists like ourselves. We ensure the process is quick and simple for our clients and that they receive the maximum financial reward in as little as 6 weeks. Get in touch with us for your free consultation today.

Eligible R&D activities:

  • Overcoming technical challenges
  • Creating and testing prototypes
  • Streamlining processes
  • Trialling new or substituting materials
  • Developing bespoke software
  • Trial and error
  • Industry firsts

Qualifying expenditure:

R&D claims are constructed from overhead costs rather than capital expenditure. These costs are then enhanced to make up the claim. They include:

  • Staff costs
  • Sub-contractors
  • Materials consumed
  • Utility costs
  • Some software costs

 If you think you can qualify, head to the calculator page on our website to use our free claim calculator to see the value of your potential claim: https://randduk.com/calculator/

Still unsure? Just have a read of some the latest successful claims we have filed for our clients:

£17K is awarded to Derbyshire based business

This Chesterfield-based family-owned business is involved in the one-off bespoke welding and fabrication of large metal pieces. Their experienced workforce operates in a fully equipped work environment which allows them to work on complex projects, creating industry-leading results. The company works in many industries including oil and gas, quarries, building and construction, structural steel and many more. Their challenging projects requires the team to problem solve and create innovative solutions using R&D techniques such as trials and prototypes to enable technological breakthroughs.

HMRC awards this company £25.7K in R&D tax credits

This company has expanded from 2 men working in their garage to a fully operating business with 2 main areas- a manufacturing element and a design and installation sector. The firm is involved with the design, installation and sales of catering equipment and the company’s reputation has grown amongst a high calibre of clientele. They have used innovation and new techniques to develop new technologies to take on more challenging projects. Their professional and experienced team strive to deliver more efficient solutions, providing designs, installations and after-sales packages to suit individual requirements within budget and on time.

1st Claim for Scottish business sees them receive £9K from the taxman

This business is a developer of custom applications for the retail industry. Their customer base includes many restaurants, hotels, and pubs where bespoke solutions are sought. Retail businesses need to manage customer and operational information effectively at a low cost and this company develops IT systems for each customer depending on their unique business requirements.

Business is awarded £22.5K making the total claim to date £189.8K

This company researches, designs, develops, manufactures and sells specialist motion technology components, products, solutions and services to meet the performance needs of professional organisations across the world. The business works with many leading companies from around the globe that include experts in motion technology, fusing science with engineering. The firm’s understanding and application of motion control technology enable them to deliver a range of bespoke solutions which requires them to innovate and use R&D. They use the experience of their team and new technology options to create technological solutions which require intense trialling.

This company receives a cash award worth £90.1K bringing their total claim to date to £395.4K

This firm was set up in Dorset by a group of research scientists to produce materials and equipment to utilise ultrasonic techniques for medical applications. In recent years, they have developed equipment to undertake non-destructive testing procedures using ultrasonic techniques for well- known companies. They are now a leading manufacturer of hydrophones, ultrasound transducers, ultrasound test stations and acoustic materials. Their dedicated scientists use R&D to trial new equipment, pushing the boundaries of science, and their innovations include developing new machinery and software to accurately measure data.

Leicestershire based business receives cash sum worth £40K making their total claim sum to date £136K

This company are specialist suppliers of ceramics and glass. They work in partnership with retailers around the world and provide products for household brands. They aim to provide quality products with good value for money, working closely with designers and their factories. Their experienced team use R&D to push their products and processes forward, looking at ways to improve production methods to minimise costs and wastage and trialling technology to optimise their products. This has led to them developing groundbreaking production techniques using methods such as trials, prototypes, and problem-solving.

Could you be eligible for an R&D Tax Credits claim?

During these turbulent economic times, businesses across the country are looking for solutions to their cash flow problems. Many companies are looking for grants and loans and overlook that fact they could be eligible for R&D Tax Credits. By successfully claiming R&D Tax Credits, your company could receive a cash injection from HMRC in as little as four weeks.

Call our experts today on 01332 477 070 for a free, no obligation eligibility consultation. Your business could be our next success story!