Datafox specialise in claiming Research and Development Tax Credits for all businesses involved within the manufacturing.
- The Manufacturing sector represents the most active vertical for R&D Tax Credits claims according to the HMRC.
- Businesses in Aerospace, Food & Drink, & Textiles are some of the many manufacturing businesses we work with at Datafox.
- Manufacturing businesses are faced with obstacles at all stages of the manufacturing process, from design & prototyping, through to tested working solutions.
- Qualifying projects include work that attempts to go beyond essential troubleshooting and is focused around attempting to develop or improve new components, an existing material, product or processes.
- Work carried out by engineers or technicians that investigates potential technological advances by attempting to resolve issues of current technological uncertainty.
- Constructing technically challenging components and assembling complex systems that requires the invention or novel application of existing technologies from other industries to improve manufacturing processes or products.
- Design studies and feasibility work may also qualify for R&D Tax Credits for work related to the development of innovative technologies.
What is R&D Tax Credit?
Introduced by the UK Government in 2000, the R&D tax relief scheme is designed to encourage innovation and global competitiveness by allowing companies to reclaim some of the money invested in qualifying research and development. SMEs can recover up to 26% (if in profit) and 33.35% (if loss-making) of all eligible R&D expenditure. Large companies/ organisations can benefit from an after-tax benefit of 9.72% of the qualifying R&D expenditure. Many UK organisations miss the opportunity to reap the potential rewards offered by HMRC’s R&D Tax Credit scheme.
The HMRC R&D Tax Credits guidance notes are set out in a document hundreds of pages thick and updated after almost every budget. Even if you manage to weigh through this yourself, chances are you’ll miss out on maximising your claim or worse, over-claim which could result in an HMRC investigation. Why the process is best served best by experts, who submit such claims on a daily basis.
Ready to apply?
If you’re ready to apply for your R&D tax refund, please call us on the freephone number below or use this contact form and one of our helpful team will be in touch to help.
Mini Case Study:
A brewing company that brews beer & operates some pubs on the south coast of England. The claim processed by the expert Datafox team relates to challenges to meet two independent issues regarding regulatory compliance: in the first instance, the brewer was required to invent a custom solution to the discharge of effluent into the sewer system after an issue was raised by the local water company. In the second instance, the brewer was required to design & install a bespoke extraction & air filtration system into the kitchens of one of their pubs. To meet the former requirement, a number of off-the-shelf solutions were tried but found to be wanting. In the end, the brewer had to make modifications to an Oil Tank system to allow capacity for effluent to be held during periods of excessive flow so that filtration systems could cope. To meet the air filtration requirement, the brewer had to work closely with subcontractors to design a system that would fit into an old building, and that would satisfy local authority & DEFRA regulations.
A successful claim was made with the brewer receiving a substantial cash back payment from HMRC with eight weeks.
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