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Client Case Study - Materials Handling
Our client is a well-known innovative producer of capital equipment. In their most recently claimed reporting period, Momentum's technical team assisted in the identification and reportage of several valid R&D projects. Reviewing multiple shortlisted bodies of work in person with the project team, we assisted the client's management team in navigating the differences between product development initiatives and claimable R&D projects, delivering a submission-ready detailed technical report complete with calculated tax benefit options.
Identified claimable projects included the continued design and development of a novel compact yet high-capacity batching station; the design, prototyping and field testing of an innovative concrete reclaimer to maximise recovery from washouts and returned part-loads; and the development of an extreme heavy-duty mobile trommel.
Each project systematically addressed numerous identified technological uncertainties in pursuit of the company's sought appreciable advancements, contributing to the sector's knowledge and technology. Momentum's industry technical team reviewed and collated the project work, while our experienced finance team liaised with the client and their external accountant to ensure that all claimable costs and the company's financial position were fully considered to calculate the available benefit and options.
All information was prepared and incorporated into a case-specific comprehensive technical report for submission to HMRC. The process gained the client a significant tax benefit based on their investments in staff, consumed materials, subcontractors, utilities and software.
To claim R&D for tax purposes, you must attempt to overcome technological and/or scientific hurdles in pursuit of a new or significantly improved product, service or process?
R&D doesn't always result in a new product, and it doesn't have to be successful in achieving the sought goals.
Three key questions that indicate you may be eligible:
- Have you invested time and resources in pursuit of new or significantly improved, services, manufacturing techniques or processing methods?
- Have you undertaken work that required significant time and effort to achieve successful results, despite possessing relevant knowledge and proficiency in the subject area?
- Have you embarked on an improvement project without knowing whether your sought goals were even possible, or how exactly they might be achieved?
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