With the latest Reality Cheque for over £90,000, a product manufacturer has received a grand total of £428,000 in R&D tax credits over six years (2012-2017). The innovative and dynamic company manufacture its own specialist range of products and processes. The market sectors catered for include construction, recycling, automotive, offshore, marine, mining, quarrying and more.
R&D is used to constantly seek new ways to explore and develop emerging technology, manufacturing processes and new potential markets. Investing in two new machines per year, the company offer a complete design, manufacture and assembly service with a broad range of in-house processes. These include cutting, fabrication, welding, machining, grinding, stress-relieving shot blasting and painting.
Heavy investment in research and development shows a lean manufacturing culture and focuses relentlessly on eliminating waste and non-value added activities from its manufacturing processes. State-of-the-art equipment have been invested in, such as fibre lasers and inverter welders, to push manufacturing capabilities to the limit.
Previous R&D tax credits have enabled the company to grow, committing resources to projects and capital investments that would have previously been too risky.