Our client, one of the UK’s largest manufacturers of building products, hadn’t made an R&D incentive claim in over 6 years and was leaving a large sum of relief unclaimed.
Hadn’t Previously Claimed
Many companies, unsure of whether their innovation qualifies for HMRC’s R&D tax incentives, often don’t make the most of the opportunities available. Whether it is increasing the efficiency of your processes, our deep tax and technical knowledge, or our experience working alongside HMRC, Ayming are best placed to educate your team on R&D tax relief, help them understand its impact on the business, and then deliver a thorough, comprehensive R&D tax relief claim.
In order to provide the best possible service to our clients it is important that we truly understand their business, as much as we do tax. Ayming employs not only tax experts, but industry specialists such as chartered engineers, software developers and chemists.
Ayming has a long track record delivering R&D tax relief claims. With over 30 years’ experience in innovation incentives across Europe, and since the inception of the UK’s R&D tax relief scheme in 2000, Ayming has analysed thousands of R&D projects, and helped its clients claim over £300m in tax relief.
What we did
The client’s size and operational complexity made it difficult to assess where it qualified for Research & Development (R&D) tax breaks – so much so that, according to the Head of Tax, the company had not claimed R&D tax relief over the previous six accounting periods.
A project of this size was dependent on organisational buy-in. Ayming sat down with each division at the client to ensure they understood the R&D incentive scheme and its business impact. To ensure that the tactics would be comprehensive, Ayming deployed a team from various backgrounds, including chartered engineers and doctorates.
Ayming’s experts worked collaboratively with client managers and technical teams to develop a comprehensive understanding of the company’s projects and activities. This enabled Ayming to best advise our client on how to maximise R&D tax claims without introducing financial risk.
Results
The financial impact has been substantial. Claim values of £0 in previous accounting periods went to £10 million in its first claim. Subsequent claims have also reaped similar multi-million-pound gains.
More than just a scalable, replicable and lucrative claims process, Ayming and our client have laid the groundwork for a collaborative relationship.
Head of Tax
