A&M EDM Ltd of Smethwick, provider of high specification precision-made parts and tooling to the aerospace and automotive sector, has claimed £674,566 in tax savings thanks to the services of R&D Tax Claims.
“Our main business is spark erosion, EDM and wire erosion”, says managing director Mark Wingfield. “This has led us into precision engineering, pressed tool manufacture, mould tool making, extrusion tool making – we have the machinery to make anything, and our global clients include JLR, Goodrich Aerospace, Marstons Aerospace and Hadley Sections. We also help other companies across the UK who need our skills and precision machinery to overcome tricky problems. Our intellectual property lies in skills built up over decades.”
“Pretty much all of our output is R&D led”, continues Mr Wingfield. “But our accountants had said claiming for R&D could be difficult to prove, and we thought it would be time consuming and costly.
But this assumption was shown-up as false after a visit from R&D Tax Claims for a no obligation chat. “They operate on a no win, no fee basis so we knew we had nothing to lose,”
Mark Evans, managing director of R&D Tax Claims says,
“It was clear that A&M were eligible for a tax refund as their work is R&D driven. After our initial meeting with Mark we received our refund within two months.
“We were really surprised at the speed of the reclaim”, says Wingfield. “We have invested it in a 1,000 sq ft two storey extension and inspection area, so that when our clients visit, they see our quality precision work showcased to perfection.”
Explaining why help from professionals can be so helpful in a successful R&D tax claim Evans says,
“We take the technical elements of what a company does, and present the evidence to HMRC in a clear manner. The clarity of the message is vital in proving the case beyond doubt.”
More than a one-off Evans says that it is a pleasure to help a company like A&M.
“We’ve now been working with them since 2012”, he assures.
“A&M are committed to constant reinvestment in the business, creating new jobs and opportunities for the next generation of skilled engineers.” However, Evans asserts that many companies like A&M don’t realise that such work can constitute R&D. But a refund can encourage them to carry on investing in activities which are important to the future of their own companies – and British industry as whole.”
Total Tax Saving: £674,566