Case Study 2 – R&D Tax Relief – Sample Claim
A UK Company developed bespoke defence products for the Ministry of Defence. The accountant approached Zenith Tax to assist the company in making an R&D claim for a particular project.
This project was to create a product which would save the lives of servicemen and women in hostile situations. To create this product there was a team of approximately 17 individuals with a variety of expertise.
The reason this project was allowable for R&D is that there were a number of technological uncertainties to overcome which required a significant amount of time and effort. This product was also a notable improvement on any product available on the market at the time. Also, the knowledge to create the product could not have been sought by a competent professional in the field because the product did not already exist.
Following the R&D claim the company saved over £40,000 in tax which would have been lost if they had not enquired into the possibility of making an R&D Claim.
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