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R&D Tax Credits for Engineering Firms
We help engineering and machining companies discover the ideal innovation funding and incentive solutions, tailored to their specific business needs.
R&D Tax Relief in the Engineering Industry
Many engineering companies are constantly striving to take their products and production methods above and beyond the existing technology.
If, like many engineering operations, you’re involved in some kind of research and development – be it prototyping, development or experimentation with materials or physical production processes – you could be entitled to receive tax relief on the associated costs.
R&D tax credits can provide significant financial rewards to Engineering companies. The tax benefit can be used to fund technical challenges and develop new prototypes or invested in new operational systems and processes. It can present a big advantage for engineering businesses operating in an often brutally competitive global market.
Examples of qualifying activity for R&D Tax Relief
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Improvements to material properties, such as:
✓ Increase in yield or tensile strength
✓ Increase in toughness
✓ Corrosion resistance
✓ Resistance to fatigue crack growth
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✓ Increase power/ output/ efficiency
✓ Building and testing prototypes, computer models of new components
✓ Requirements to increase efficiency, decrease waste, reduce emissions
✓ Making manufacturing processes – faster, more efficient, safer
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✓ Equipment needed to operate in harsher conditions than before: higher/ lower temperature, higher pressure, exposure to harmful chemicals
✓ Increasing or decreasing scale, e.g. from prototype to full size
✓ Introducing new machinery – if significant changes are needed to off-the-shelf machinery or if bespoke equipment is made and does not work first time
Our customers say…
We were able to claim for projects that ranged from basic chemistry, used in the resins for our buoyancy systems, through to the testing procedures carried out to calculate the subsea pressures our structures will withstand. I don’t know an accountant who can visit our plants and identify such R&D detail. With the technical expertise of Visiativ, we saw a massive increase in the money returned for the R&D we had invested in and, now that we have seen what HMRC considers eligible expenditure, I hope our future claims with Visiativ will be every bit as strong.
Sir James S Milne CBE, Chairman and Managing Director, Balmoral Group
How Visiativ can help you
Visiativ can help you access the support you need to develop innovative products, processes & services, and drive growth. Our team of technical experts will guide your company through the process of making robust, successful, compliant R&D tax relief claims. We know what to claim, how to claim and, perhaps most importantly of all, the many pitfalls to avoid.
