It is a nice to have cash injection, meaning that we will look at projects differently from an R&D perspective moving forwards. This is a benefit we weren’t aware of and it was nice to get cash back as it helps our balance sheet and may allow us to employ additional technical staff who can specialise in this area and win more work in the future.
MPN UK are often tasked with the conversion, reuse and re-purposing of existing buildings, this involves working around live tenants and the public. They made the case that many of their design solutions must be bespoke and innovative in order to meet the clients requirements, minimise disruption to the existing users of the building and maximise the commercial value of the existing structure. MPN work sustainably by avoiding demolition and rebuilding of properties. They look at different ways of analysing the building, in addition to researching and testing new methods to maximise the value of the existing building. MPN hadn’t submitted a claim before and weren’t aware the work they did qualified for the R&D scheme despite the fact that they had been carrying out this kind of innovative work for years.
For MPN the result was a nice to have cash injection, meaning that they can look at projects differently from an R&D perspective moving forwards. This is a benefit they weren’t aware of and it was nice to get cash back to help their balance sheet and may allow them to employ additional technical staff that can specialise in this area and win more work in the future. They will be building this cash injection into their annual budget forecast in the future.
Our in-house team of highly experienced scientists, engineers, tax consultants and attorneys would love to answer all your questions and help you make the most out of your R&D efforts.
Contact our R&D Tax Experts