Leading, Birmingham-based manufacturing business, APS Metal Pressings has secured its 7th consecutive year of tax credits, collecting over £300,000 from the Government’s tax incentive scheme designed to encourage companies to invest in R&D.
The business, set up by Peter Smith from his garage in 1970, now has a turnover in excess of £8 million, with an enviable client list including the world’s leading car manufacturers.
Innovation has been at the heart of the business since its inception, with Peter trialling and testing metal forming techniques to create new tools from the outset. Today, the business is led by his son, Paul Smith, who continues to recognise the importance of designing and developing unique, high quality, cost effective solutions to meet client requirements.
Paul Smith, Managing Director, APS Metal Pressings said:
‘In the 1970’s and 80’s, our Hockley based premises were surrounded by metal pressing companies, today we are the only one. Our successful growth has been founded on our willingness to invest in automation, and to take on challenging projects, which often require a new approach, to achieve tooling life and cost benchmarks.
These projects inherently involve R&D, however, it was not until we were approached by R&D Tax Claims that we were aware that we would qualify for tax relief. We have now secured over £300,000 in tax claims, simply by doing what we usual do. I would wholeheartedly encourage other manufacturing businesses to do the same. Working with R&D Tax Claims didn’t cost us a penny until we secured our tax refund, making the process risk free.’
Mark Evans, a Chartered Accountant, and MD of R&D Tax Claims, recognised that many manufacturing companies were unaware that they could reclaim through the HMRC scheme, driving him to set up his business in 2009.
Mark Evans commented:
‘Manufacturing companies all too often perceive R&D as something undertaken by scientists wearing white coats in laboratories, rather than engineers in oily factories. However, successful manufacturing company, like APS Metal Pressings, continually strive to deliver perfection at the lowest cost, finding clever and innovation ways of achieving this, though many of their counterparts do not recognise this as R&D. We have a 100% record of success with R&D tax claims for manufacturing firms, because our team is comprised of engineers, many with decades of experience working in the sector.’
Paul Smith, MD of APS Metal Pressings agreed:
‘Our dedicated Account Manager at R&D Tax Claims is Paul Sherborne. From the outset, it was clear to see that he understood our industry, bringing with him decades of experience working in the Automotive, Aerospace and Electronics industries in both the UK and worldwide. Paul liaises directly with our project managers, technical experts and estimators, providing them with everything they need to record time spent on R&D, making the process simple and easy. Importantly, Paul also takes the raw data and technical information he collects and compiles it in to a detailed report that complies with HMRC’s guidelines for a successful claim.’
Total Tax Saving: £312,824