About the Claim
This engineering client (name withheld due to privacy regulations) have had to adapt over the years to the fact that their market has fast become saturated with competitors offering the same materials and services at discount prices.
As such, it has been imperative that they adapt and expand the business to offer specialised and unique solutions to issues faced by the company’s clients.
What We Did
The R&D team at Cowgills visited this client to gain a better understanding of the company’s activities and highlight the potential benefits that a claim for R&D tax relief could offer.
Given the company’s long history within the welding industry, our team here at Cowgills identified that the client could meet the criteria for R&D tax relief due to the company’s work on large scale, unique projects.
The cost of the projects undertaken spanned multiple years and are significant, due to the challenging nature of the solutions being developed and the constant requirement for improvement within the industry.
Cowgills lodged claims for a couple of years, with the main qualifying expenditure being the staff costs of the specialists working on the projects and certain consumable items used up during the process.
Following the submission of the claim, this client received an average benefit of £40,000 per annum.
R&D tax relief claims for 2017*:
What the Client Said…
“We had been discussing our business with Stuart (Stead) who raised R&D as a possible opportunity to explore as it wasn’t something we had previously considered.
As a practical bunch, we were just ‘doing our job’. What we hadn’t appreciated was that whilst we were creating unique and innovative solutions to keep ahead of our industry, that those solutions would be eligible for R&D Tax Relief. Cowgills have saved us around £40k a year.”
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