In the engineering industry, the average R&D claim is £129,000 per year!
Engineering is all about solving technical problems and developing new and improved ways to apply technology, which results in constant demand for research and development.
While engineers may see themselves as problem solvers rather than innovators, it is precisely this type of daring mindset that the R&D tax credit scheme was designed to foster.
If you designed, invented, or improved a product/device/process within the last three years, you may be eligible for a significant annual pay out under the government’s R&D tax credit scheme. Unearth your full claiming potential with our expertly led team of ex-HMRC investigators, chartered accountants, tax law experts, and sector specialists.
We suggest evaluating your project against the following three criteria to determine if it meets the requirements for R&D classification in the eyes of HMRC:
The main goals of R&D are to resolve technical challenges, alleviate uncertainties, and develop advancements.
R&D can be seen in a variety of ways within engineering, but it is most frequently seen in the following:
if you think the work your company is doing may qualify, we would be happy to set up a free assessment call to help you better understand the possibilities and benefits of filing an R&D tax credit claim.
Telecoms and network engineering
Marine technology engineering
Engineering relating to materials.
Our expert team of sector specialists, construction professionals, accountants, and former HMRC tax inspectors are uniquely equipped to uncover R&D expenditure in construction projects that other advisers may miss.
Our process has been tailored for the construction industry, designed to uncover eligible projects and compliantly maximise your claim.
EXPLORE: Schedule a free appointment below to determine your eligibility and your company’s total R&D tax position.
CREATE: We’ll create a claim that minimises your exposure to HMRC enquiries, speeds up the process, and undergoes rigorous compliance checks by our in-house team.
OPTIMISE: We’ll help you find additional sources of R&D funding and offer planning assistance for your R&D strategy, considering potential incentives and grants.
REWARD: We’ll help you safely receive the maximum tax credit available, supporting your future growth.#
If you believe your claim has not been fully optimised and you may be entitled to more compensation, or if you want to begin your first claim, seek professional advice from Bonham & Brook on how to proceed below.
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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