Is your engineering business claiming fully for its innovation?
Engineering is an industry sector that is inherently involved in R&D activities and yet some companies eligible for R&D tax credits are currently not claiming. Given the significant contribution the sector makes to the wider UK economy, the government is keen to ensure that engineering companies are incentivised and rewarded for R&D through the scheme.
Latest HMRC Statistics - Engineering
Statistics on the number of claims processed, the overall value and average claim value are not available for this sector as it is not a designated category.
What qualifies as R&D in the engineering sector?
The R&D tax credits scheme rewards any company that undertakes work to resolve a ‘scientific or technological uncertainty’ and in doing so increases the overall knowledge or capability in that field. Qualifying activities may include:
- Creating, trialling and testing new designs or prototypes which result in appreciable advances specific to that sector.
- Greatly enhancing existing products and process in order to extend overall capabilities in a particular field.
- Streamlining automotive processes by combining existing or new techologies in a unique way.
- Adapting materials for use in different environments using complex techniques.
Download our Engineering leaflet to find out more
Why work with SciTax?
The R&D tax relief scheme is a highly technical and complex process. With extensive experience working within this field, we are well-positioned to help engineering companies and related industries claim for their innovation.
At SciTax, we take a supportive approach to guiding our clients through the entire claims process. We offer regular visits to your premises (where required) to discuss and review R&D activities to ensure we maximise your benefit. Additionally, we undertake as much of the R&D claim work as possible from identifying eligible projects, through to writing technical narratives, and calculating difficult R&D calculations.
Our support doesn’t end when we submit your claim. Our fee structure includes full enquiry support should your claim be investigated by HMRC.
