lWeekly R&D tax credits success stories 04/09/20
As we welcome in the Autumn season, we’re embracing shorter nights and colder mornings however, for many the same keenness is not felt towards the scaling back of the government’s furlough scheme. The scheme was set-up to prevent mass redundancies and to provide financial aid to those workers who could not continue working during the lockdown caused by the corona virus. The scheme provided a financial lifeline for almost 10 million workers between March and August and is now set to end on 31st October. As of September 1st, businesses that have staff on furlough will have to pay 10% of their wages which will rise to 20% in October. Amidst fears the end of the scheme will increase the unemployment rate, the added costs for businesses using the scheme is another expenditure many companies cannot afford.
With firms continuing to struggle through the uncertain year, cash-flow problems and mounting debts are threatening millions of UK businesses with closure. Many business owners are applying for loans and grants as solutions to their financial problems however, these methods often incur further costs and can be a lengthy process.
One solution that 90% of UK businesses are eligible for but overlook is R&D Tax Credits. R&D Tax Credits are a government funded scheme that aim to reimburse firms for investing in R&D to encourage sustainable growth and further investment in the form of a cash award. R&D projects can involve investing in a new piece of machinery or endeavouring to improve processes or existing products (among others). Many businesses do not realise they qualify for the scheme or are sceptical about applying due to a lack of information. This is where randd uk can help. We are R&D Tax Credit specialists who make the claim process quick and simple for our clients, so they use up the smallest amount of their time possible. We guide our clients through the process from the initial phone call to discuss eligibility, to visiting client’s premises and submitting our report to HMRC.
Despite the current climate, claim sums are being awarded in as little as four weeks and our expertise means we always maximise our client’s claim size. You have nothing to lose! Get in touch with one of our team today by calling 01332 477070 to discuss your eligibility.
Below are some of our latest client success stories… you could be next!
First claim of £88.9K for heating and cooling systems business
This business is focused on the development, optimisation and installation of commercial heating and cooling systems for large commercial and residential buildings in London. The company takes on many construction projects a year that involve innovation and technology which reduces the c02 emissions and the power consumption of large commercial properties. Working alongside top universities, the company has developed a methodology for optimising the design of both heating and cooling systems which aims to eliminate errors at the design and planning stage. To create this system, the firm invested in R&D to ensure the methodology was as efficient as possible and saved the most emissions.
3rd successful claim for manufacturing business with a latest claim of £79K making their total claim sum £253K
This company develops and manufactures vacuum formed products including mouldings and fabrications for display equipment. The company have recently focused 70% of their workload on new products which involves utilising new and novel materials to improve packaging and performance. The business carries out all innovations from concept to finished delivery in their specialised facilities in Leicestershire and the new product development process has been extended by CAD CAM capabilities which has accelerated the prototyping process. There is a culture of innovation at the company and they continually improve production facilities as well as investing in staff. They have developed a range of business software tools by using R&D techniques such as prototypes and overcoming technical difficulties.
1st claim worth £97K for fin-tech start-up
This firm is a Financial technology start-up who has devised a new banking business model and is developing technology to bring the model to the general public. The business is attempting to provide the general public with an investment tool that has similar returns as private hedge funds. The firm has also developed its own cryptocurrency that members buy using cash. Within their app, the firm also provides a service of securely sending money to anyone globally at no charge. Their app is for smart phones that is available to the public for free and provides access to a member marketplace. The app utilises blockchain technology to provide a secure, fraud proof platform for performing financial transactions online. The company has used R&D to invest in the automation and update of hedge fund algorithms to provide financial returns each month and develop its own cryptocurrency.
A latest claim of £7K brings this London based business’ claim total to £20K
This London based UK telecoms start-up provides an application that allows users to download additional UK mobile numbers onto their smartphones from anywhere in the world. The Company want to address four key points which are: online customers who want to remain contactable whilst maintaining privacy when being contacted by unknown numbers; mobile customers owning multiple handsets or SIM cards; holidaymakers travelling outside the UK facing roaming charges; and expats and non-UK residents requiring a UK mobile number on a foreign handset. The firm have used R&D to create innovative software and technology whereby consumers can avoid giving out their personal number online yet still be contacted on that mobile. The firm have eradicated the need for multiple handsets or SIM cards, and users can travel the world without incurring roaming charges, and expats and non- UK residents can communicate via UK mobile numbers without incurring the cost of a UK handset or SIM card.
A recent claim of £94K brings this business’ total claim sum to £164K
Based in Sheffield, this business possesses extensive experience in the financial claims management sector as well as having many years’ experience of working in the general insurance arena. They recover money for clients who have been mis-sold payment protection insurance and packaged bank accounts. In a very crowded marketplace, the company has developed industry leading business systems to increase its performance aimed at minimising client involvement by maximising the service offer. They have developed their own IT systems leading to huge efficiency gains and have used R&D to improve technology and staff working flexibility which included trials, prototypes, and problem solving.
A latest successful claim of £27.2K for gaming company makes their total claim total to £78K
This firm is one of the UK’s leading independent designers and creators of digital gaming content. The business is based in Stafford and the firm is able to use the expertise of their passionate staff to create dynamic content and product knowledge that is unrivalled in the industry. The company’s focus is on providing innovative games and improving the experience for all players who are tired of the re-worked and repetitive games on the market. The business has used subcontractors and R&D to develop their software and games and has recruited specialist development engineers to internally create games.
Manufacturing company is awarded £24K back from HMRC bringing their claim total to £93K
Establishd in 1998, this business manufactures a comprehensive range of communication devices including location and Bluetooth devices, development kits, and communication timing devices. The company has two main focuses which are developing marketable communications devices for businesses and the public and developing solutions to solve specific problems for given customers. The company attends many exhibitions each year to ensure they are at the cutting edge of technical solutions and their target sectors include gaming, marine ecology and transport among others. They have specialist expertise in non-voice communications technologies and develop products that enable customers to realise their full potential. The work involves the analysis of existing devices and problem solving and their innovations includes a new hardware server which enhances the capability to run products on particular virtual private networks. Projects such as these have required bespoke solutions through intense trialling and problem solving leading to the satisfaction of customer needs and technological breakthroughs.
A latest claim worth £41K brings this company’s claim total to £201K
Established in 1945, this business has been at the forefront of metal perforating technology and the manufacturing of perforated products for decades. Known for its high quality products, innovative solutions and exceptional levels of customer service the firm has established itself as one of Europe’s leading perforators. The company services markets and customers in automotive, chemical, pharmaceutical, food and agriculture and aerospace among many others. Their key products include filtration, exhaust systems, and microwave radiation containment and more. The business has recently built a purpose- built new factory and office facility in Warwickshire which has brilliant transport links to the rest of the UK and internationally. The business has built custom-made high-speed machines for more efficient production and also incorporated expanded metal into its product range which has consolidated it as a leader in innovation. As well as constantly exploring new materials, tooling developments and manufacturing processes and new machinery through trial and error. R&D has allowed them to develop software, machinery and processes through prototypes to reduce costs and improve efficiency.
Herefordshire business is awarded claim of £44.6K making their total to date £151.8K
Based in Herefordshire this business is the UK’s largest trade manufacturer of identity and promotional badges. They also produce complimentary merchandise such as coasters plus a selection of awards and plaques in high quality finishes. This firm are a top choice for many leading British business as the bespoke nature of their products, choice and quality set them apart from competition. The business continues to invest in production equipment from laser cutting to printers and always seeks to improve its production processes to stay ahead of competition and streamline processes to become more efficient. They have innovated software development to make ordering more efficient and have used R&D to lead innovation projects that required bespoke solutions and significant trial and error to achieve technological breakthroughs such as a new wood range. They have also prioritised creating new software and using new materials to become more sustainable and environmentally friendly.
Oldham based business receives a claim worth £44.8K making their total claim to date £234K
This business has been developing web management software for agencies and web designers for over 20 years including e-commerce, content management, SMS, e-marketing software and online CRM systems. They have developed around 2000 systems and their flexibility and quality ensure client satisfaction. The company do not deal directly with any end users of the websites they work on which gives their clients peace of mind as no matter how good a website’s front end looks, if the back end controls and processes are not of a high quality the business performance will inevitably suffer. The firm also provide bespoke integration, software development and build exactly what clients want whilst offering round the clock telephone support. The firm constantly innovate including development strategies and practices that deliver effective solutions that meet client’s needs. The business has undertaken huge projects using R&D to produce unique, targeted solutions through intense trialling and problem solving.
Yorkshire business receives a latest claim worth £39K making their total claim to date £144.9K
This company is a family run business that breed and sell pigs to food manufacturers that supply to supermarkets. Their years of experience in farming using traditional techniques underpinned by continuous investment in the latest equipment makes this firm pig breeding experts. Recently, a programme of development was undertaken to reduce the amount of straw-based buildings for the pigs and the intention was to move to a more efficient, temperature controlled, ventilated and dully slated system. The firm have undertaken a number of R&D projects to improve welfare and environmental projects requiring the development of bespoke solutions through intense trialling and problem solving.
Cambridgeshire based business are awarded a cash award worth £14.8K from HMRC making their total to date £47K
Established in 1965, this business is the trade body representing the promotional merchandise industry. They are dedicated to promoting best practice in sourcing, manufacturing, branding and distributing promotional products and clothing. The firm is committed to offering its members competitive advantage through its education and engagement programmes and providing best-in-class education opportunities. The company is focused on innovation and evaluating the different methods of education delivery including online learning, classroom learning, on-the-job experiences, quizzes, articles, white papers and more. The company has focused mainly on its website and how to make the e-learning experience more personalised and bespoke for each learner. The company always seeks to improve products and processes and the development capabilities of staff and expertise. R&D was used to develop software tools that have put the business at the forefront of technology in their industry.
Call the office today on 01332 477070 for a free, no obligation eligibility consultation. Your business could be our next success story.