R&D Tax Credits for Engineering and Manufacturing
Gain financial advantage to invest in technology and innovation
A quarter of all R&D Tax Credit claims are from the ‘Manufacturing’ sector, and accounts for almost one third of the total amounts claimed. In 2017/2018 this amounted to over £1.2 billion pounds across 12,000 claims.
This means that the average manufacturing claim was for around £100,000.
Examples of Qualifying R&D Activities for Engineering & Manufacturing:
- Designing, developing, and testing prototypes
- Developing new welding processes
- Developing new processes to meet extraordinary specifications (surface finish, tolerances, new materials, etc).
- Developing operational efficiencies
- Automating operations, and developing robotics
- Developing processes for new materials.
- Improving machining processes
- Researching and testing alternative materials.
- Developing casting processes
- Determining tooling requirements and optimal placement of equipment
- Developing processes to meet changes in regulatory requirements
- Experimenting with new or improved filling and packaging techniques
- Improving strength, durability, and service life
- Maximising machining feeds/speeds while ensuring quality and integrity of the part
- Improving processes including filling and sealing of products, packaging, die design/techniques, minimising environmental impact (waste control and recycling), and flexibility and agility due to increased product volume and diversity
SMEs are missing out on £thousands in R&D tax credit relief.
Many companies are unaware that their activities to develop new products for their customers or themselves are in fact R&D, the costs of which can be very significant when all contributions are taken into consideration
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