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Chartered Accountants Specialising in R&D Funding
R&D Tax Credits in the Manufacturing Sector
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. Any manufacturer who is trying to improve a product or process to achieve greater efficiency, improve quality or make it more cost effective may qualify.
Could you qualify for R&D Tax Credits in this sector?
Qualifying Examples of R&D Tax Credits in the manufacturing sector
The R&D tax credit scheme rewards any company whose work seeks to resolve a ‘scientific or technological uncertainty’. Qualifying activities may include:
- Developing new and innovative products and improvement of existing products.
- Streamlining manufacturing processes through improved automation.
- Integrating new materials to improve product performance and manufacturing processes.
- Developing innovative manufacturing equipment and improving operational processes.
- Designing, testing and trialling of prototypes.
Further information on projects that count as R&D can be found on the Government website: here
Our work in the manufacturing sector
UK experts in the design and manufacture of sensors, instruments and systems for electrical parameter measurements developed a transducer for residual current measurement and high performance electrical current probes.
Libcus recovered £57,000 for the client.
A company manufactuiring electro optic and passive optical products serving the international laster community developed high voltage linear amplifiiers for pokel cells.
Libcus recovered £45,211 on this project.
Other industries eligible for R&D Tax Claims
Our technical specialists regularly process successful claims in the manufacturing 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.
With the effects of climate change on our planet at the top of the government agenda, renewable energy and the protection of our environment are one of the most important areas for R&D sectors of this decade.