MANUFACTURING
If you operate a manufacturing business and you’ve recently developed new or improved products or processes, then there is a strong chance that you could benefit from a Research and Development Tax Credit claim.
Get In Touch
Whilst R&D may sound like complex tax relief, only available for scientists who are pursuing ground-breaking developments. It is also available to so many other businesses that are improving existing products, developing new ones, or improving processes.
Almost every business will be doing some sort of activity that meets the criteria for claiming the incentives. But sadly, a lot of these businesses are missing out, either completely by making no claim at all, or in part, by not including everything they can. And with up to 33.35% cashback available on qualifying R&D spend, that’s criminal!
R&D TAX CREDITS FOR MANUFACTURING EXPLAINED
R&D in manufacturing most commonly relates to the development of products or processes. It’s inevitable that many businesses continue to advance their existing product range. And if this advancement involves an element of head-scratching and problem solving to overcome technical difficulties, it’s likely the project will qualify for R&D incentives.
WHAT TYPE OF MANUFACTURING PROJECTS CAN QUALIFY FOR R&D TAX CREDITS?
A broad range of projects can meet the Government’s R&D definition, for example:
PRODUCTS DON’T HAVE TO BE UNIQUE TO QUALIFY
R&D incentives can be applied to any business that designs or makes something… anything! The thing you’re making could even be being made elsewhere too.
It’s likely you’re not using the same materials or following the same standards as your competitors. You might be light-weighting, working in different space constraints, and so on. There are so many things that differentiate your product or the processes you use to put it together. And after working on the R&D scheme since it began in 2000, we know exactly where to look to maximise your claim.
WHY IS RESEARCH & DEVELOPMENT IMPORTANT IN MANUFACTURING INDUSTRIES?
We speak to hundreds of businesses that think they don’t qualify for the relief, which makes the eureka moment all the more sweet.
That’s because R&D boils down to two qualifying criteria. Firstly, have you made a change or an improvement to a product or your manufacturing process? And secondly, did those changes take some time, some thought or some testing?
If you can answer “yes” to both of those questions, it’s time for us to have a chat, because R&D tax incentives are a fantastic way to keep your business and your cash flow on the front foot.
R&D MASTERCLASS FOR MANUFACTURERS
Still unsure about the reality of R&D for your business? Watch below our R&D Incentives Partner, Chris Knott, who highlights the importance of R&D for manufacturing businesses and why we need to stop calling it R&D.
WHY COOPER PARRY?
In three years we’ve put more than ££61 million back with businesses. Our experienced and dedicated R&D incentives specialists means we know what to look for and we know where to find it.
Let’s talk today
Want us to call you? Let’s start a conversation!
Donna Challinor
CP Innovation Associate Partner
Get in touch with Donna Challinor
CLIENT TESTIMONIAL
“The results exceeded our initial expectations, once we started discussions, it became clear that we could claim for more than we anticipated. I found the process both informative and straightforward. The additional cash has enabled us to increased pension payments, and give us a little more security in purchasing stock.” – Dominic Hall, Watergen
Read All Reviews
Latest News
Reviews
JAMIE, SEPT 24
“Very detailed and fully explained. Fully assisted in everything we do.”
“Thanks for taking the time to review us, great comments."
ANDREW, SEPT 24
“Always great speed of action from the team. Very helpful even when I am slow returning communication. Supportive and helpful and know where to point us if CP don’t have the answers.”
“Fabulous to hear we're the support you need Andrew."
JEREMY, SEPT 24
“Clean and efficient audit. Thank you.”
“Perfect, thanks Jeremy!"
SABBAT, SEPT 24
“The team is very friendly and professional and always very responsive. They work around our timelines as much as is possible, and try to be flexible.”
“Wonderful to hear this, thanks so much for the comments!"
PHILIP, SEPT 24
“Met expectations. Very pleased with service received.”
“Good to hear we met your expectations, but in true CP style, next time we'll endeavour to exceed them!"
JENNIFER, SEPT 24
“Great support and great people.”
“We love comments like this, thank you Jennifer!"
ALASTAIR, SEPT 24
“Probably slightly exceeded expectations – happy with your work & assistance in preparing the technical summaries of the R&D work performed.”
“Ah amazing, thanks for the comments!"
SARAH, SEPT 24
“Love the informal approach, smooth audit using the portal and always approachable for what I sometimes think are my silly questions….”
“There's never a 'silly question' in our book! We're always happy to be on hand to help. Thanks for the lovely response."
KEVIN, SEPT 24
“Much of the interaction with the firm was handled by Isio so they might have a more feedback but from my perspective, I don’t recall any issues or concerns. Completing the audit before the end of June and the holiday season was very important.”
“Happy to hear we hit your deadlines, thanks for the feedback!”
PETER, SEPT 24
“Proactive, highly competent but also personable.”
"Thanks for the compliments - very much appreciated."
