This electric vehicle company designs and manufactures sustainable four-wheeled pedal vehicles, integrating advanced materials and mechanical systems to improve efficiency and performance.
As an electric vehicle company focused on innovation, the business undertakes ongoing electric vehicle research and development to enhance product performance, sustainability, and user experience.
HMRC enquiry and randd’s support
The CEO of the electric vehicle company explained:
“randd provided exceptional support throughout the compliance check. They had already prepared a comprehensive claim that clearly documented our development project, which formed a solid foundation for our defence.”
When detailed technical queries were raised by HMRC regarding the company’s manufacturing and engineering advances, randd worked closely with the business to provide thorough, well-evidenced explanations, supported by clear accounting for R&D Tax Credits. This ensured that its R&D activities were clearly documented and aligned with HMRC requirements.
The CEO added:
“Their understanding of the guidelines and ability to articulate complex technology and our technological advance was invaluable in successfully defending our claim.”
Qualifying R&D activities
As an electric vehicle company, the business undertakes qualifying work as part of its research and development.
These activities involve addressing technical challenges and uncertainties in line with HMRC’s criteria for what qualifies as R&D, supporting ongoing innovation within the business.
Outcome of the claim
With randd’s support, the electric vehicle company successfully defended its R&D Tax Credit claim following HMRC enquiry. The business secured the full amount of relief due, providing confidence in its approach to future claims.
This outcome also strengthened the company’s ability to clearly articulate its electric vehicle research and development activities for ongoing innovation.
Could your R&D work qualify?
If your company is investing in research and development, you may be eligible for R&D Tax Credits.
Our specialists understand the complexities of electric vehicle research and development and can help identify qualifying activities that may have been overlooked.
Get in touch with our team to explore your eligibility.
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