Over four years (2013-2016), a sharpening steels manufacturer has claimed £69,500 in R&D tax credits with the latest Reality Cheque for £16,500. The company is a leading supplier to the butchery, food processing and catering industries, offering a range of forks, butchers bowsaws, pocket knives, yachting knives, military knives, promotional knives and letter openers.
Research and development is carried out to extend the product range, such as the development of more innovative steel alloys and potential materials for handles. This results in more R&D as new techniques and technologies are required to deal with these new materials. More demanding customer requirements, particularly in the kitchen & butchery and military markets means that innovation is needed to compete with cheaper, imported alternatives. Research and development ensures that the company stays at the forefront of blade development.