Engineering

Engineering projects that may qualify for R&D tax relief include:

• Innovation of product development using computer aided technology;
• Bespoke design and development of systems and products;
• Production of prototypes and modelling of 3D solid objects;
• Increasing ease of operation or suitability of products;
• Development of computer models;
• Integration of new systems and materials to improve product performance, or;
• Designing, constructing, and testing product prototypes.

What activities can be included in a R&D project?

• Overcoming challenges and uncertainties;
• Designing and making products;
• Suggesting a more cost-effective process;
• Suggesting a more time-efficient process;
• Time spent researching and development of current projects;
• Seeking to improve processes, services, materials or devices;
• Production of prototypes or performance testing;
• Development of software or IT solutions;
• Investment in failed projects or developed products that are never launched/used;
• Efficiency of product, process or service, or;
• Employing any staff of a highly skilled background or with technical or scientific background.

What expenditure can be claimed for in a R&D project?

• Staff Costs – Employee costs (salary, national insurance and employer pension) are apportioned for their time spent on the R&D project plus any reimbursed associated business expenses;
• Software – Purchased for R&D purposes and costs apportioned for any subsequent use;
• Subcontracted R&D – You can claim 65% of what you paid your R&D subcontractor;
• Utilities & Consumables – Water, fuel, power and material used in the project, or;
• Prototypes – Produced for R&D purposes.

Here at Recoup Capital, we are specialists in R&D tax credits for engineering firms, as well as a range of other R&D sectors. Contact us today to see how we can help you.