Precision Engineering and R&D Tax Relief / Tax Credits
The components that precision engineers make have been driving innovation in numerous sectors including: Aerospace, Automotive, Defence, Energy, Medical, Petrochemical. A significant part of the work is to determine how to manufacture items with demanding technical requirements and/or geometries, which are difficult to manufacture and usually require iterative development and the resolution of significant technological uncertainty to establish a reliable and efficient manufacturing process. The uncertainties typically relate to how the physical characteristics of the component change as it progresses through the stages of manufacture (e.g. material stability, distortion, results of heat treatment, etc.) and how to achieve the desired surface finish, tight tolerances, threading, complex geometries, cycle times and tool life. Contact us to evaluate the potential benefit of making a claim.
Can Precision Engineering businesses claim for R&D Tax Relief / Tax Credits?
Many precision engineering firms that are attempting to create the most efficient manufacturing process to produce complex components are benefiting from R&D tax relief and tax credits, year on year. Their claims represent between 18% and 33% of their annual qualifying development costs.
To be able to claim R & D tax credits for engineering firms, you must be:
- subject to UK corporation tax
- seeking a significant technological improvement in your components, system or process
- incurring costs in your project developments
Our expert team of Tax Relief and Engineering Consultants will guide you through the entire process. We will talk your language, identify that you are eligible to claim, prepare the key documents for submission by your own Accountant, track your settlement and, on the very rare occasion that HMRC have any questions, we will support your submission. Our fees are entirely contingent on the success and size of your claim.
We offer a FREE ASSESSMENT up front, confirming your eligibility and your compliance with HMRC rules. Then we guide you through the claim process from start to finish.
How to claim Precision Engineering R&D Tax Relief / Tax Credits?
With our support, claiming R&D tax relief or tax credits is straightforward and efficient. RandDTax are here to help you throughout the process. Our robust quality assurance process ensures that your business benefits from every penny you’re eligible for.
We have extensive experience in claiming R & D tax credits for engineering firms. Our clients value our reputation as a full-service R&D tax consultancy.
To see exactly how we can help your company successfully claim R&D Tax Relief / Tax Credits, from start to finish, contact us today.
If you still aren’t sure, read this case study to see how engineering companies can benefit from R&D tax credits.
Get in touch today regarding Precision Engineering R&D Tax Relief / Tax Credits.