Case Study:

Automobile Parts Manufacturer

Business type: automotive companies

Case-Studies-Automotive-Companies-JGBC Accounting|Bookkeeping|Payroll & Taxes|business advice consultancy|start up|micro and small businesses|quickbooks|quickbooks online uk|new business ideas

R&D Project: creation of new car parts that are no longer available on the market.

Number of years claimed for: 2 year

Total Value of Claim after fees: £19055

The R&D tax credit scheme is an HMRC incentive created to inspire and reward limited companies for their innovation and development of their industry. 

If you are a UK based automotive company that has spent time and money for innovation and product development, you may be eligible to claim R&D tax credits. At JGBC, we have experience dealing with HMRC, we speak their language in our reports and can use our expertise to explain the HMRC regulations to you to make the whole process easy and simple. 

Examples of qualifying activities:

  • Developing alternative fuels
  • Developing new safety features
  • Developing new ways to reduce CO2 emissions
  • Developing manufacturing processes
  • Developing new designs to adhere to environmental or regulatory constraints
  • Developing new processes to improve vehicle’s recycling opportunities
  • Developing tuning techniques in order to achieve a better performance
  • Creating new or improving existing materials
  • Reverse engineering lost methods and processes

What can be claimed?

  • Direct staff costs  
  • Software 
  • Utilities 
  • Raw materials/ingredients

JGBC step-by-step R&D process:

  • Accounts review meeting – our R&D expert will arrange a meeting with you to look into your accounts and determine what exactly can be claimed.
  • Generating a claim report – we will create a detailed report for your claim ensuring HMRC understand your objectives and justification for your R&D claim.
  • Submitting your claim to HMRC – once you are happy with your technical report, we will submit it to HMRC. 
  • Receiving your funds – it will normally take up to 6 weeks for you to receive your claim amount provided the claim is successfully processed.

Please note, JGBC has a no win no fee approach to R&D Claims and our fee is competitive at 25% of the realised relief compared to the industry average of 28-33%. Feel free to contact us any time to get more information about your R&D eligibility. With our expertise in taxation, we will also advise you how you can put the funds from your claim back into your business.

For more inquiries

Please contact: 0330 1248002 info@jgbc.co.uk