"WORKING WITH CONSULTANTS WHO UNDERSTOOD OUR ACTIVITIES SIMPLIFIED THE CLAIM PROCESS AND RESULTED IN A SUBSTANTIAL TAX RELIEF FOR OUR COMPANY. WE ARE HAPPY TO RECOMMEND LEYTON SERVICES."
CASE STUDIESMANUFACTURING COMPANY
A manufacturing company that develops parts and concepts to market, as well as constantly making process improvements to their daily workings.
Identifying eligible projects
- We had not claimed for R&D tax relief previously and were unsure how to accurately identify which of our activities qualified as per the relevant tax legislation.
- We pride ourselves on being a class-leading, modern manufacturer. Our dedicated teams constantly strive to improve our processing and manufacturing output, as well as develop parts and concepts new to the market.
We engaged with Leyton three months before our financial year end but never felt under pressure in their dealings with us.
- The first step in the process was a conference call, during which our Finance Manager and I provided an overview of our activities and related expenditure.
- This was followed-up by an on-site assessment where our facilities and documentation associated with our projects was fully evaluated.
- Leyton then conducted interviews with our Manufacturing, Development and Product Development Managers and relevant team members.
- The final part of the process involved some follow-up with our Development Engineer and Finance Manager.
- The end result was a comprehensive and accurate technical report and financial calculation which we provided to our auditors for submitting with our revised Company Tax Return.
Cash injection for the business
- Our R&D tax relief will be received as a combination of tax refund and payable tax credit, which we plan to reinvest in the business.
New business processes in place
- The claim preparation process has now given us a good understanding of the information required for the R&D tax relief claim. On Leyton's advice, we have implemented detailed time sheets to relevant departments which means we will have greater scope for measuring our R&D activity going forward.