Engineering Company – Specialising in the design and build of specialist winches for wide range of specialist applications.
The company took on challenging R&D projects where their high level of expertise could be applied. In some cases they identified niche market opportunities and in others they were bidding on a fixed price basis to meet specific customer requirements. They took the development risk in all cases.
In each case the developments represented advances in the capability of technology to deliver a solution to the customer need, where no existing alternative was available.
Developments included a small portable winch developed at low cost to be used on small fishing boats to raise lobster pots from the sea bed. Another involved the creating of a winch to be operated by our troops in Afghanistan, to raise observation balloons using remote controls.
We were asked by the company’s accountants to help scope the R&D content of projects over three years, and assist in preparing the justifications to be submitted with the R&D Tax Credit claim to HMRC.
The company has been able to claim around 20% of their R&D costs in Corporation Tax Credits.