£39k tax saving for Lancashire-based wholesale business
We were introduced to an ambitious, £50m turnover Lancashire-based wholesale business who had invested time and money in both a highly innovative ERP software system, and also significant product development to bring an in-house product range to market. It was clear that this business was carrying out two very separate, but both certainly eligible, R&D projects. We met with the owner of the business who had assumed due to their core wholesale activity, they wouldn’t be eligible to claim R&D Tax credits. He was therefore delighted when we confirmed that indeed they would be eligible to claim and his tax save for the first two years would be £39k.
If you need advice on claiming R&D tax credits, please get in touch with the expert team here at Luvo and we’ll be happy to help.