Engineering R&D Tax Credit, Coventry

Engineering R&D Consulting

Our Engineering client in Coventry has been able to make use of the Engineering R&D Tax Credit for their engineering solutions business. The R&D Tax Credit is designed to encourage companies to invest in research and development activities that contribute to innovation and technological advancement.

After a robust and in-depth technical meeting, we had good understanding of their R&D activity and successfully claimed £550,000 in R&D Tax Credits for the past two years. The company offers a full range of engineering solutions, including design, mechanical and electrical engineering, and covers the entire process from concept to installation, indicating significant research and development work.

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engineering r&d tax credit

R&D Tax Credits, Coventry

If not claimed in the last two years, businesses can claim retrospectively, and this company received a benefit of £550,000. This credit will greatly benefit the company’s financial situation and provide additional resources for further innovation and growth. Please note R&D activity for financial year 2020/21 must be claimed in 2023.

Remember that the R&D Tax Credit program may have specific eligibility criteria and documentation requirements, so it’s essential to ensure that your claims are compliant with the regulations and guidelines set by the government.

Overall, taking advantage of the R&D Tax Credit is a strategic move that can not only provide financial relief but also encourage your company’s ongoing commitment to research, innovation, and technological advancement.

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