Weekly R&D tax credits success stories 03/11/20

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 will receive a cash injection from HMRC in as little as 4 weeks. A common misconception about the incentive is that you need to be a lab coat wearing firm to qualify, but this is simply not the case. Businesses from any industry can qualify and the spectrum of R&D activities is very broad. If your firm makes products or innovative processes, or pioneers improved IT and software you could be eligible for cash rewards

 R&D Expenditure you can claim for includes:

  • Staff costs
  • Sub-contractors
  • Materials consumed
  • And a proportion of utility costs

Eligible R&D activities include:

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

Below are some of our client’s latest success stories!

£15K is awarded to student guardianship & accommodation business making their claim total £25K

This firm is a guardianship service provider and placement organisation for international students studying in the UK, arranging accommodation for students with English families. They also offer an education consultancy service which places international students in reputable UK schools. The company has evolved from a family- run business run at home to a substantial employer in a purpose- built office, with a network of staff throughout the country. The business puts both student and staff welfare first and have used innovation to develop their management and software systems. They have used R&D to develop a bespoke business system software tool to develop their strategic focus and efficiency.

A recent claim for Northampton based manufacturing business is valued at £40K                                                      

This Northampton based firm developed its international reputation for advanced manufacturing processes including machining and fabrication to enable its customers’ new product and process developments. They serve a range of sectors including nuclear power and Formula 1. It’s latest work in the nuclear industry has required the firm to invest in the latest software for both machine tool and robot programming. The business uses a wide range of steels including exotic materials to help customers achieve their  desired performance outcomes, and their ability to innovate new products drives customers to them.

A Chesterfield based family business receives a cash award of £13K making their aggregate claim value £27K

This firm is dedicated to providing a comprehensive range of skilled manufacturing processes for engineering pattern making, tooling, modelling and mould making plus developing and manufacturing bespoke joinery and furniture. Many of the techniques the business use are traditional craft skills acquired through years of experience and learning the job from the ground up. Technology and innovation also have vital roles to play as well as their customer focused approach. As the use of traditional skills has declined over recent years, the company was created to fill the gap in the market, and as consumer demand has changed the business has evolved its manufacturing processes. They have undertaken a number of R&D projects that have required individual attention to achieve solutions that have included trials, prototypes and problem solving.

Manufacturing company is rewarded £23.4K in R&D tax credits bringing their claim sum to £124.6K

This business is a versatile cold roll-forming company, manufacturing high quality steel sections, predominantly for the ceiling and drywall market sector. Based in Shropshire, the firm has a highly motivated and skilled workforce that offer bespoke manufactured solutions to customer specifications. The business has an ongoing investment in the development of products and processes and continually seeks to improve its operations.

Branding firm receives a latest claim of £34K making their total claim to date £69.4K

This firm is an international player in the branding market. The firm provides branding expertise and services to their clients as well as developing bespoke websites as a crucial part of their service offering. The business takes the time to truly understand their client’s businesses so they can create robust strategies and designs for them that have meticulous attention to detail. The business service many companies in luxury markets such as private aircraft and real estate where clients expect an exceptionally high- end service in branding and website development and their business relies on their ability to innovate and create new ideas. The company recruits coding engineers with the skills and imagination to create code that is unique and pushes website design to its maximum. Their innovation occurs within the development work they undertake in the design of bespoke websites for their clients.

Leicester based firm are awarded a claim worth £7.9K making their total claim £17.5K

Based in Leicester, this firm develops one-off castings in varying different materials and regularly explores new ones. The company develops one-off patterns and tooling using various different methods and materials. Their projects include technical uncertainty regarding whether or not the parts could be developed to the expected requirements and costs of the customers. These projects require several prototypes to be made and this trial and error process is not always successful, which means the business runs the risk of making a loss on every job they undertake as these projects have uncertain outcomes. This risk allows them to be at the cutting- edge and to push boundaries and innovation. The firm has used R&D to satisfy customers needs and wants through technological breakthroughs and to establish long- term relationships with clients.

Furniture supplier is rewarded £3.7K in R&D Tax Credits making their claim total £13.6K                                              

This business is a supplier of quality, design led furniture and mattresses to the student and private let markets. Experienced in the supply of bespoke furniture solutions that make any space feel modern, luxurious and functional. They have developed materials that are ‘student proof’ at a competitive price. The firm has a culture of innovation where all ideas are explored, and they continually improve their production facilities as well as investing in staff and expertise. R&D techniques used include prototypes that had to be repeatedly redesigned by a team of skilled designers and engineers.

Southampton based firm receives £112.4k from HMRC making their total claim to date £748.6K           

This firm was formed in Southampton over 30 years ago and has since become one of the largest independently owned electrical distributors in the UK.  The business has a stand- alone assembly division that is dedicated to offering solutions to bespoke projects, materials supply and management solutions to the oil and gas industries among others. The company  has a vast experience in supplying electrical bulk materials including lighting and control products and more for hazardous and potentially explosive areas. The nature of the business means innovative approaches to projects are always needed to ensure client demands are met.

Firm located in Telford receive £26.7K in R&D Tax Credits making their claim sum £114K                                              

This company design, build and install industrial refrigeration and conditioning units. They offer a consultancy service from concept right through to maintenance by their team of service engineers. They serve many industries including civil engineering, leisure, food industries and many more. Much of their work requires novel thinking. They develop their own systems and software to meet the tailored needs of bespoke installation.

First successful claim for Scunthorpe based firm is worth £32.2K                                                                                      

This Scunthorpe based business specialises in offering clothing that is comfortable for the bigger man as well as stylish. They also offer advice on which brands cater towards those individuals who prefer a bigger fit. The company designed, created and supplied an app that makes use of wearable technology which integrates with the clothing to monitor the health and wellbeing of users. Diversifying into the wearable technology market requires a large amount of R&D and creating prototypes for a final solution. The company’s target market of overweight and obese men is particularly concerned with understanding biometric data in relation to the effects and causation of their body weight ad its resultant impact on living. The creation of innovative aps such as these are focused on offering a healthier lifestyle for its customers through monitoring various health factors.

Derby based business is awarded £48.3K from HMRC making their total claim to date £109.4K

 Located in Derby, the company provide and organise conferences, exhibitions and continuing professional development content for solicitors and dentistry among other industries. The company are leading providers of high quality affordable CPD training for the profession’s as well as the organisers of the profession’s exhibitions, across many platforms. The company’s courses include the latest developments in the law and are presented by leading speakers in the field. The business use innovation to create bespoke modules in an existing CRM application that can grow and change with the business. They have used R&D to develop software and a CRM system.

Doncaster based firm are awarded £22.6K in R&D Tax Credits making their claim total £107.7K

This business have a repute for some of the best quality products and service levels in the food industry. The business are dedicated cooked- poultry producers, specialising in supplying the wholesale and food service sectors of the market. Many of its staff have over 20 years of experience within the industry which helps them maintain their high standards. Since the company’s inception, they have focussed on manufacturing quality products, supplying natural, hand- prepared meats to customers who want a quality product. They must manufacture sample batches for testing which incurs large costs with no guarantee of success. The firm have a team of product developers who are constantly involved in R&D.

Engineering firm are awarded an additional £144K making their total claim £220K

This firm represent a new kind of engineering service provider that has been established by engineers and practitioners with years of experience within multiple industries that have a focus on aerospace, nuclear, automotive, land systems and rail. The company is growing quickly and has established itself with some high profile customers in the technology sector as their USP is their ability to develop technology solutions. Their innovations include offering a full design, prototype build, development and testing capabilities and always pushing state of the art techniques and processes. Interactions with customers is critical to delivering these cutting-edge solutions as well as pushing the boundaries of what is possible.

Leicester based business receive a latest claim of £12K this year making their claim total £32K                                    

Located in Leicester, this business packs all types of ambient stable dry food products that includes powders. They also blend powders which can be fitted into many varieties of packaging including pillow packs, gift packs, jars, tubes, and tubs among many others. They undertake many trials with customers for suitability and practicality as well as weight and cost of the packaging. The company always seek to grow their manufacturing capabilities and constantly add equipment to their facilities to meet the needs of their customers.

Call the office today on 01332 477070 for a free, no obligation eligibility consultation. Your business could be our next success story.