Engineering is all about solving technical problems and developing new and improved ways to apply technology, resulting in the continuous demand for R&D.
Engineering covers a broad spectrum of industries, including everything from manufacturing to construction, where R&D is used to achieve state-of-the-art advancements.
As both technology and standards progress at an ever-increasing rate, companies are required to enhance their technical knowledge in order to meet the demands of increasingly challenging projects, products and client requirements.
Engineering is one of the industries which often overlooks R&D activities as they are often considered to be typical challenges in their office or field. However, any activity that demonstrates a quantifiable improvement in the technical capability of a product, system, process or solution is considered to be R&D, including:
As the engineering industry is so broad, it is difficult to estimate the potential benefit received from a claim. The more challenging and complex it is to reach the project goals due to technical challenges, the more time-cost can be included in the claim under the scheme. Engineering companies can also claim costs associated with wasted materials and prototype manufacturing which can add a significant amount to the final benefit.
It was a pleasure working with the guys at Bonham & Brook, especially considering that, with the wealth of knowledge backed up with the expertise of an ex HMRC officer, we had confidence going ahead with a claim for the first time. After successfully receiving a substantial refund, we would not hesitate doing another claim and, it goes without saying, Bonham & Brook will be our preferred partners going forward. Thank you, again.
We worked with the team at Bonham & Brook on the R&D claim that we were unaware of. To our surprise they made the whole process seamless and we received our refund from HMRC. We will definitely be using B&B again for our R&D claim to help us grow our business.
At first I believed that R&D tax credits were a little too good to be true or that my company would not be applicable. Jenson, Hannad and the team's expertise and experience reassured and guided me through the process. I had to put in approx. 1 - 2 hours work and they did the rest of the application. The first time we worked together they were able to claim for the previous 2 years, so we received a bumper double rebate. This money has helped us grow the business by having the cash to grow the team and increase our marketing budget. My business has grown thanks to their work, so I am eternally grateful.
Managing & Creative Director
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