Weekly R&D tax credits success stories 24/06/20

As the UK embraces the hottest day of the year so far, the warm weather is welcoming in the final stages of the corona virus pandemic. Many businesses are reopening their doors, and social distancing restrictions are easing. However, as everyday life begins to feel more ‘normal,’ a return to the pre- virus status-quo is unlikely. The pandemic has shaken the global economy and with it many businesses. Economists are predicting a severe worldwide recession due to the worldwide lockdown and the impact on companies’ cash-flow means businesses are scrambling for bailouts and cash-injections.

Due to the current economic climate, now is the perfect time to consider R&D Tax Credits as a way of improving your company’s cash-flow. R&D Tax Credits are a government funded scheme to reimburse UK businesses that have invested in R&D. Randd uk are R&D Tax Credit specialists and without the help of experts like us, the claim process can be difficult to manoeuvre and time- consuming and you may not reward your company with the maximum cash award. Our 12 years of experience and team of industry experts means we can take on challenging claims and achieve the most lucrative awards for our clients. We make claiming R&D Tax Credits easy and efficient and our strong relationship with HMRC means no element of your claim will be overlooked.

The definition of R&D involves a company seeking to improve a current product or service or innovate new ones from scratch. Qualifying R&D projects are varied and include labour costs, wastage, utility costs, sub-contactors and more. Your business might be investing in R&D without realising you qualify for this brilliant scheme.

Investing in R&D is an essential aspect of helping the UK emerge out of the economic downturn caused by the corona virus, and randd uk are here to help UK businesses sustainably fund their innovation. Although, we are still working remotely we are processing claims for clients in as little as 4 weeks. We are monitoring the latest government guidelines on social distancing and will move back into the office when it is safe to do so. In the meantime, we are still offering our best service and are keeping our clients safe by regularly communicating with them online, digitally and over the phone.

Here are some of our latest client success stories:

  1. A recent claim of £52.4K for this Leicester based business

This business specialises in Manufacturing highly innovative blinds for transportation vehicles such as ambulances, trains, coaches and more. They install tailored blinds to customer specifications and innovation is at the heart of company ethos. The research and development time for each project spans years due to the amount of iterations required and the lengthily process of responding to exact customer adjustments. The firm’s R&D projects include creating bespoke solutions through intense trialling and problem solving.

  1. Client headquartered in London achieves a claim of £150K, making their total claim to date £480K

This company specialise in medical research and bringing new methods of administering drugs to the market. They undertake many specialist R&D projects and are prolific problem solvers and work with clients to bring complex products to market. They have undertaken many R&D projects involving trials, prototypes, and problem solving.

  1. A first claim of £39K for TV manufacturers

This business pioneered in- wall and waterproof televisions and their innovation team have remained market leaders in products of high-end custom TV’s for many years. The company use R&D extensively to ensure their products are of the highest quality and so they can offer their customers a huge variety of choice, for example the size and shape of the televisions.

  1. A first claim worth £27K is awarded to this London based business

Headquartered in London, this company create fast, effective and sustainable ways to get business offerings in front of China’s new generation of tech savvy consumers. The rise of China’s urban middle class has seen more consumers opting to shop online which makes the opportunities to trade in the market huge. This firm has a culture of innovation where all ideas are explored to drive down costs and develop products and processes. What’s more, the company continually improve their development as well as investing in staff and expertise. The firm pride themselves on advancing the boundaries of what is possible with business software tools and they have used R&D to develop technologically challenging solutions both in product development and process methodology, using new techniques with new applications.

  1. This business receives a claim award of £44K, making their total claim to date £302K

This company develop and supply a comprehensive range of fabrication services from survey, design and prototyping to manufacture, surface finishing, delivery and installation. The business constantly upgrades their workforce to keep up with the competitive market, and their innovation has allowed them to supply to many different industries. R&D has enabled the company to create cutting edge fabrication techniques and provide one-off solutions through intense modelling, trialling, problem solving and reworks.

  1. A recent claim of £38K brings this business’ total claim size to £92K

This company provide a sign manufacture and installation service for local businesses and shops. They are signage experts and their team are experienced in traditional sign making techniques. The business is underpinned by continuous investment in the latest equipment, and their use of R&D to turn impossible ideas into reality is extensive. R&D has allowed the company to create a bespoke environment and a variety of new machinery. The R&D techniques the company uses include prototypes, samples, technological advances, trialling and problem solving.

  1. First claim worth £58K for construction company

This business is a luxury residential building, refurbishment and maintenance company, specialising in cutting edge design and build solutions for exclusive clients. The firm are London based and they work with clients from the initial consultation to delivery and installation and provide maintenance and support. They have developed methods to work with a variety of materials which ensures they stay at the forefront of their industry, and their R&D projects include trials, prototypes and problem solving.

  1. A recent claim of £15.1K makes this company’s total claim award £68K

This company are a family- owned, trade- only supplier of novelty promotional products who have been established for over 25 years. They use modern technology and printing methods to offer a full design to order service and manufacture totally unique products at their headquarters based in Macclesfield. The company boasts a highly experienced work force producing quirky, novelty products and the business continues to invest in its manufacturing facility and equipment such as printers and software. Their R&D work is integral to their growth and furthers the development of their production and software capabilities that require innovative solutions such as problem solving, bespoke software development and high degree of trialling and testing.

  1. A first claim worth £36K for printing business based in Huddersfield

This Yorkshire business specialise in printing both locally and internationally and offer the best service possible at great prices for every aspect of digital, litho and wide format printing. To stay competitive the firm continually invest in new machinery and expand their product range. The business has used R&D to create technologically challenging solutions using prototypes, software and trial and error, and their staff expertise creates a culture of innovation where all ideas are appreciated and explored. Furthermore, the company has excelled in recent years due to their skilful use of the internet to endorse and sell products such as foil business cards.

  1. York based client achieve a total claim size of £49.9K

This firm specialises in the horticultural and biomass industry, creating innovative solutions to provide efficient and manageable systems known as vertical farming technologies. Vertical farming is a relatively new industry therefore the business spends a lot of time using R&D to innovate methodologies and technologies. Innovations include in-house trial greenhouses and tunnels and custom designs.

  1. A first claim of £70K is awarded to this Manchester born business

Based in Manchester and London this company specialise in offering business and financial services with a focus on using technology to automate and streamline payment processes using technology. The firm develop products that challenge issues identified with retail payment markets, such as slow processing times. The business has used R&D to bring financial services and business services together into one platform.

  1. A recent claim of £26.5K brings this company’s claim total to £81.1K

Based in Leicestershire, this business serves the oil and gas, rail, automotive, medical and instrument manufacture industries. The company also supplies research and development facilities and universities with a manufacturing service. The business continually invests in new machinery, people and systems and this has enabled the firm to continually improve and exceed customer expectations. The business used R&D to excel engineering development and prototyping so they can produce highly complex results. R&D has allowed the firm to push technological boundaries and solve complex needs for clients.

  1. A recent claim of £15.9K brings this company’s total claim amount to £37.5K

This firm design furniture and interiors for retail environments and specialise in fashion stores. They work on commissions including boutique hotels, restaurants, retail and high-end residential living spaces. They have undertaken several R&D projects for the fashion retail and food chain industries which have required numerous iterations of design work, prototyping and on-site trialling.

  1. A latest claim of £6.3K for Midlands based business makes their total claim to date £26.9K

This Midlands based Marketing company have been trading for 30 years and offer large agency expertise while maintaining a small agency mindset, placing customer satisfaction at the core of what they do. Creativity and innovation are at the heart of the business and their innovations include providing an improved user experience. They have used R&D undertake many website and software development projects using bespoke coding and scripting.

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

#fundyourinnovation.

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