Weekly R&D tax credits success stories 08/06/20
Good news can seem a little hard to come by in today’s climate and the global pandemic has only intensified the challenging conditions we all face. Since the UK first went into lockdown in March the spread of the virus has reduced thanks to the huge efforts of NHS staff and people following government advice to stay home. As we start returning to a ‘normal’ society the aftermath of COVID-19 is becoming more apparent. Due to the widespread lockdown throughout the UK, many businesses have been unable to trade, produce and manufacture for over 2 months resulting in many companies facing bankruptcy or severe cash- flow issues. As a result, the demand for loans, grants and tax relief has increased as businesses try to stay afloat.
Despite the huge challenges we face as individuals and businesses there are still ways that 2020 can be a financially successful year. If your business is facing economic struggles due to the corona virus, randd uk can help. We are specialists in R&D Tax Credits, a government funded scheme which distributes tax relief to UK companies that have invested in R&D. The good news is your businesses can be compensated for money and time you have already spent. Moreover, with approximately 75% of eligible UK businesses not yet claiming R&D Tax Credits, there has never been a better time to claim. What’s more, despite the current pandemic, HMRC are processing claims in around 4 weeks meaning you can receive your cash reward in as little as a month.
If you are a SME facing cash-flow issues you have nothing to lose by contacting randd uk today to see if you are eligible for R&D Tax Credits. We have nurtured a relationship with HMRC for over 12 years which means we understand their processes and how to maximise your claim. When claiming R&D Tax Credits under the SME scheme, HMRC typically look at 3 main areas including: gross assets, staff numbers, and turnover. Successfully claiming means your business will receive a total tax reduction of 230% and if you are making losses a claim can be made that is worth up to 14.5% of your surrenderable losses.
Here are a few examples of our latest successful claims and satisfied clients:
A recent claim of £5.3K brings this West-Midlands total claim size to £15.6K
The principle activity of this firm is to design and manufacture quality assured equipment for the printed circuit board industry. They provide product upgrades, maintenance and technical support for their clients and design custom inspection systems.
A recent claim of £35K for Leicester based business
This business has over 10 years of specialised experience in the field of LED lights. It is a family- run business that design, manufacture, and import a range of high-quality products for the LED lighting market. The business is versatile and offers contemporary alternatives to traditional bulbs and halogen lights. The firm continually improve their production facilities and invest in staff and expertise. Their use of R&D involves prototypes to ensure technical demands of projects are met, and developing technologically challenging solutions to product development.
A latest claim of £9.4K for Marketing firm based in Canvey island
Based in the South-East of England, this family run business wanted to bring something different to the organic market in the UK. Their mission is to bring natural and organic oral and dental care to consumers and create a brand they can trust. Their products are licenced by PETA under the beauty without bunnies campaign and have won multiple awards. The business has used extensive R&D to ensure their products are of the highest quality and the best on the market. Their innovations include trial and error and extensive research and testing.
A recent claim of £7.8K brings this Sheffield based business’ total claim to £37.9K.
This business design and manufacture specialist cutting tools. They make bespoke cutters to customers to exact specifications and refurbish tools. Their business depends upon R&D and the production of innovative cutters to unique specificities for unusual jobs. R&D has helped them overcome technical uncertainty and research new technology.
A latest claim of £70.6K bring this firm’s total claim size to £1.150m
This business specialises in high quality precision engineering for the aerospace, automotive, power, marine and petrochemical industries. They undertake very complex work which means investing in new technology and constant communication with customers is key. They use R&D to continually push the boundaries of what is possible and to develop technological solutions. Their innovations also include using materials in new ways for new applications.
Durham business secures a claim of £4K
This firm are involved in the rental and sales of heavy farming and construction machinery. They have recently diversified into the biomass sector as a way of creating greener and cheaper energy for production. R&D trials were used to test the functionality of a machine that converts forestry into electricity.
A latest claim of £11.8K brings this Sheffield business’ total claim size to £54.5K
This company are leaders in the audio-visual industry. They provide equipment and support for one- off events and also carry out permanent installations. They use R&D to stay updated with the latest technological developments which allows them to remain at the cutting edge of their sector. The R&D techniques they use include creating bespoke solutions which are developed through intense trialling and problem solving.
A latest claim of £52.9K brings this Lancashire company’s total claim size to £804.9K
This firm are an independent water treatment facility specialising in the design, development, manufacture, installation, and commissioning of water treatment systems. Their success is attributed to their development of technologically advanced products and processes at competitive prices. They have used R&D extensively to create advanced software systems and their highly qualified staff have built prototype machines. They have also used R&D to experiment with different materials and have utilised in-house testing.
A latest claim of £13.2K for Blackburn- based business brings their total claim to £22.3K
This firm have created a unique voice network business. They have invested in new staff, technology, and data systems with a goal of unified communication. They have used R&D to produce innovative and ground-breaking products and software to constantly upgrade equipment.
A latest claim of £12.5K for Nottingham born firm makes their total claim size £33K
This company offer digital solutions using the latest IT methodologies to solve business problems. They provide IT support with particular focus on schools and education sectors. They have used R&D to make tailored solutions to overcome challenges as they work in a regulation heavy sector.
Yorkshire based company achieves a total claim size of £60.1K
This business are a manufacturing facility and workshop complete with design, engineering and fabrication capabilities. They specialise in the production of specialist equipment and use R&D to make bespoke solutions. They must use innovation to test equipment and remain knowledgeable on the latest industry processes.
Call the office today on 01332 477070 for a free, no obligation eligibility consultation. Your business could be our next success story.