Leyton - R & D Tax Credits
In ever-evolving business such as the valve and actuator sector R&D is the key to competitive advantage and maintaining a strong market position
Creating a culture of innovation amongst the workforce and developing new innovative solutions will enable you to be step ahead of other companies and able to adapt to your clients’ needs. This however can tie up a sizeable amount of company investment and is the reason why innovation is often stifled or reduced from the initial idea or philosophy.
Leyton has been helping clients with this for 20 years.
We work with clients to understand all areas of R&D within their business and all of their production processes to identify areas where they may be able to access government funding or tax relief. It’s not all about scientific experiments and academic theses - R&D can include a much broader set of activities initiated by an organisation directly or as part of a client project. Development and improvement of systems, designs, prototypes, software and processes can all be part of this, as well as the people requirements to make this work. Our technical consultants have saved companies millions of pounds in tax credits by breaking down the component parts and identifying new business areas where legitimate claims can be made.
How does it work?
- One client had 5 engineers working on a Project for BP in the offshore sector. Their engineers were designing, prototyping and manufacturing a new innovative product. Although paid-for by BP this was our client’s R&D.
- We were able to save them 25% of the 5 salaries and they reinvested this into a new milling machine.
Leyton is delighted to be working alongside the BVAA, helping members explore opportunities to encourage greater investment in R&D and innovation. To find-out how we could support your business please contact Charles Precious - Tel: +44 (0) 20 3763 5190 or Mob: +44 (0) 7341731059
Published in Valve User Magazine Issue 46