Many businesses can benefit from R & D tax credits. Here is an example of how R&D tax credit/relief of £110,000 over two years helped a fabricator of large vessels. The business designs large tanks and vessels for use in the chemical sector. This is clearly an area that involves a lot of R & D, as more efficient methods of storage are developed and specialist manufacturing techniques are employed.
Business designs large tanks and vessels for use in the Chemical sector
- Fabricated vessels which must satisfy Notified Body approvals for vessels which must satisfy safety.
- Specialist welding requirements
- Unique mixing capabilities within the vessels