R&D Tax Credits - Case Study - Manufacturing |Innovation Tax

R&D Tax Credits – Client Success Story

Industry Sector: Manufacturing

A chance introduction leads to a substantial R&D Tax Credit claim.

Client Profile: £4.4m turnover & 47 employees

Background: The company operated from premises next door to an existing client for whom we had previously made a successful claim. Since their introduction to us, the Innovation Tax specialist claim team successfully identified numerous compliant qualifying R&D activities in product development, process refinement, failed projects and automation, and are currently working with the same client to submit a patent application on a new product, alongside our patent attorney.

R&D Tax Credit received: £41,000

Client Feedback:

“Innovation Tax were recommended to us from another business relationship, and we were surprised to learn that we were eligible to claim R&D Tax Credits for our efforts in innovation and product development. Innovation Tax were very efficient, knowledgeable and thorough in their approach from the very start, and we would not hesitate in recommending them to assist other business in this sector to claim these valuable tax benefits.”

Insight

The Manufacturing industry accounts for around a quarter of all R&D Tax credit claims

In the fast-moving world of smart technology, the ability to innovate and adapt to customer requirements is an essential weapon in the manufacturers’ armoury, hence flexibility has never been more important than it is today. To meet industry needs, many manufacturers find themselves investing in their research, development and test capabilities, finding new ways to do things, making appreciable improvements in process efficiency and raw material usage, or simply in getting previously disparate systems to work in synergy with one another. and at Innovation Tax, we understand the importance of having a specialist team to help guide you along the way.

Some of the many types of Manufacturing activities that are likely to qualify for R&D Tax Credits include:

Design and development of new products
Appreciable improvement within existing processes
Increased cost effectiveness of manufacturing processes through automation
Evaluation of new materials to increase/improve performance within a product, process, system or device
Prototyping and 3D modelling activities
Testing and trialling activities carried out to test efficiency, accuracy, robustness, durability and weight
Designing new processes to allow for a more efficient flow of materials
Modification of machinery to adapt the intended use and add additional capabilities
Development of computer-controlled equipment
Improve sustainability of new and existing products and processes
Requirement to adhere to regulatory requirements requiring processes to be developed / altered
Design and development of innovative safety equipment
Activities to scale up production

HOW CAN WE HELP?

Innovation Tax prides itself on the knowledge and experience of a team consisting of R&D claim technicians, sector specialists and tax professionals who can expertly help our clients to identify all qualifying activities and eligible costs and submit a robust, fully maximised claim, that will stand up to HMRC scrutiny.

Start the conversation with a complimentary, no-obligation discussion.

Innovation Tax specialise in helping companies access vital funding and tax incentives to enable their businesses to grow, increase profitability, reduce risk and enable further investment in R&D and capital investments.

R&D Tax Credits – Client Success Story

A chance introduction leads to a substantial R&D Tax Credit claim.

Insight

HOW CAN WE HELP?

Start the conversation with a complimentary, no-obligation discussion.

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