Actuarial Pension Consultants
Probably one of the most unlikely industries to qualify for R&D tax credits, we identified that this particular company was developing a new methodology for calculating annuity rates involving a series of algorithms and other associated computer software code. This resulted in a claim worth several million pounds to the company.
Metal Gate Manufacturers
We were introduced to this company by another firm of accountants who had heard of R&D tax credits but didn’t understand how they work. Historically traditional blacksmiths, over the years the company developed a number of techniques for both shaping the steelwork and applying a protective coating, which is unique and is not replicated elsewhere in the industry. As a result of its research, the company devised new tooling to enable it to produce metalwork in a completely different and more cost-effective way to its competitors, and we were able to substantiate a very significant claim for R&D tax credits for the company.
Our client company was involved in the design and manufacture of equestrian goods, saddles and bridles, made out of traditional leather but using a novel manufacturing design. This gave the products a competitive edge and contained elements of the design and technology, which allowed for staff time and resource allocation to this new process rather than simple manufacturing, and substantiation of a very significant R&D tax credit claim.
Training and Consultancy Company
This company undertakes two distinct functions, one of which we identified as potentially eligible for R&D tax credits. We suggested using split contracts of employment to clearly separate out the remuneration, and hence costs, which qualified for R&D tax credits. By modelling different scenarios, we were able to demonstrate the overall new saving to the company of restructuring its remuneration packages to accurately reflect the time spent on each different activity, including the benefit of a significant R&D tax credit towards expenditure.