Having pure water is essential in many contexts, in this R&D Tax Relief and Tax Credit Example, the company worked on developing its water purification equipment for the Pharmaceutical and Chemical sectors.
The innovations that qualified as research and development included improvements to water purification equipment used, for example, in cleaning avionic equipment and in printing equipment. The company also improved equipment it manufactures for softening water.
Over two years the R&D claim value was around £27,000 made up of both a reduced corporation tax bill and cash payments.
Manufacturing equipment to purify water for use in Pharmaceutical and Chemical sectors:-
- Removal of impurities in cleaning of avionics equipment.
- Reduction of salt and purification of water used in printing equipment.
- Water softening equipment.
If you think your business could benefit by making an R & D tax credit claim, check our R & D tax credit calculator and see how much you could claim.