Over five years (2013-2017), an engineering company has received £197,000 in R&D tax credits with the latest instalment of £31,000. Based in Chesterfield, the company is one of the leading sub-contract engineering firms in the Midlands.
With a clear strategy for growth, the company is growing with highly skilled individuals and heavy investment in both capital equipment and research and development. R&D has focused on machining processes such as improving machining accuracy, reducing floor space and initial cost, lowering operating expenses, reducing operator requirements and improving the work environment. Investments have been made in the latest Computer Numerical Control (CNC) lathes with milling capabilities which reduce operations.
Previous successful R&D tax credits claims have enabled the company to purchase a Solidworks seat to enable the start of an in-house drawing office department.