Engineering Industry Tax Relief

 

We help hundreds of engineering and machining companies find the right innovation funding and incentive solution for their business.

You’re pushing technological boundaries on a daily basis, whether it’s developing tools to support safe well intervention, monitoring different aspects of ageing North Sea platforms, developing detailed mathematical algorithms for production composition, or improving portable instruments for on-site gas analysis. There’s a wide variety of engineering disciplines involved in advancing the science of your sector.

Examples of areas where qualifying R&D activities could exist:

 

  • Machining: Perhaps you machine complex profiled components from exotic materials within advanced engineering industries, such as aerospace or automotive? Or your non-routine work concerns the development of product designs, tooling and materials incapable of being machined using traditional or readily deducible methods? If so, you’re undertaking eligible R&D work.
  • Oil & Gas Decommissioning: The current technological challenges related to decommissioning of oil and gas facilities (DECOM) will create areas where Research and Development tax benefits are available.
  • A high emphasis is placed upon environmental and economically acceptable solutions. Input and improvements are required in the following areas: engineering and planning; well plugging and abandonment; (P&A); demobilisation of derrick barges; and platform removal.
  • With a comprehensive technical justification these areas point towards a high potential of eligibility for Research and Development tax credits. There is also a high environmental component with untested potential solutions.

“We were totally stunned at the amount claimed, we really couldn’t believe it. The tax benefit has since allowed us to reinvest the money, buy new machinery and hire 2 new people. What a great result!”

Rod Wah, Managing Director

Beverston Engineering

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