R&D Tax Credits in the Engineering sector
Engineering encompasses a diverse range of businesses from those involved in more traditional areas such as structural and mechanical engineering, to those pushing boundaries in fields such as aerospace, pharmaceuticals and robotics. Most companies working within this industry are involved in seeking innovative solutions to technical problems, which lies at the heart of the R&D tax credit scheme.
Could you qualify for R&D Tax Credits in this sector?
Qualifying Examples of R&D Tax Credits in the environmental & renewable energy sector
The R&D tax credit scheme rewards any company whose work seeks to resolve a ‘scientific or technological uncertainty’. Qualifying activities may include:
- Development of original prototypes and fabrication of new or improved products.
- Implementing a project in a unique or challenging environment.
- Combining technologies using complex techniques.
- Developing better materials to improve product performance.
Other industries eligible for R&D Tax Claims
Our technical specialists regularly process successful claims in the environmental and renewable energy sector. However many other industries are eligible to claim R&D Tax Credits. For more informaiton on other industries and examples of claims, please click on the links below:
Technology & Software
The technology sector is one of the fastest growing sectors in the UK and as such is one of the key areas for R&D tax relief:
- Cyber security & encryption
- Search engine advancements
- Linking old & new software systems
Food & Beverage
R&D has always played a part in the food & beverage industry but is constantly increasing as awareness of allergies and healthier types of food and drinks grow in demand but where taste remains a key factor.
Manufacturing
The importance of a successful manufacturing industry lies at the heart of any economy, and today more than ever flexibility in adapting to ever changing customer requirements is vital for future prosperity.
Do you have any Questions?
Our technical specialists are always available to answer any questions you may have.
We would love to find out more about your business and how we might be able to help you compile a Research and Development tax claim.
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