Research & Development Tax Relief Example: Metal Forming Machinery Manufacturing
You’ll stand a much better chance of justifying your R&D tax credits claim and recovering all the money you’re due if you can talk to HMRC in a language they understand
22 September 2017
You’ll stand a much better chance of justifying your R&D tax credits claim and recovering all the money you’re due if you can talk to HMRC in a language they understand.
Keen to capitalise on the UK Government’s R&D tax credits scheme? Ask yourself this: how many languages do you speak. No, that’s not part of the eligibility criteria. And we’re not talking about French, German or Japanese either. The simple truth of the matter is that you’ll stand a much better chance of justifying your R&D tax credits claim and recovering all the money you’re due if you can talk to HMRC in a language they understand. Not the ‘geek’ most tech companies are used to speaking at work.
Take Dundee-based Rautomead, which manufactures metal forming machinery. Their eligible R&D activity included overcoming several challenges to appreciably enhance the casting process through improved furnace thermal efficiency and casting rate. Rautomead is “a very technically-minded operation,” says Brian Frame, Rautomead’s MD, which presents its own challenges when it comes to preparing R&D tax credits claims.
Cue ABGI UK, the UK’s leading technical R&D tax credits specialists. ABGI's Innovation Funding Consultants “more or less make a translation from our language to what HMRC would see as novel and inventive,” continues Brian. “They make that bridge between the technical side and what HMRC are looking for.” And they do it rather well, going by the six figure sum that ABGI secured for Rautomead.
“As a company, we spend something like 20% of our turnover on R&D, so it’s a fairly strategic part of our whole business,” explains Brian. With their in-depth knowledge of how both Rautomead and HMRC work, literally thousands of successful claims to its name and an award-winning combination of the best people, best processes and best results, ABGI “makes something which is quite valuable to the company very easy,” helping not just Rautomead’s bottom line but also how it positions itself for future business.
Keen to join the 28,500 SMEs who’ve already benefited from the scheme? Talk to a trusted translator like ABGI, who speaks both your language and HMRC’s. Yes, it’s good to talk, but it’s even better if you say the right things.