With over 50 years in business, Mini Gears (Stockport), has secured £592,243 in tax relief on their research and development efforts with the help of tax relief specialists, R&D Tax Claims.
Mini Gears is a family owned engineering company who supply to the automotive and aerospace industry on a global scale. They specialise in gear manufacturing, but with the help of their 5-year relationship with R&D Tax Claims, they have been able to expand their machining capabilities to diversify into high end markets with high precision machined components and top quality gears.
“R&D Tax Claims have helped us to take our company forward. Don’t assume that what you do won’t qualify as R&D. Meeting with Mark at R&D Tax Claims gave the opportunity for our team to get together and discuss the projects we completed over the years and identify the research we actually carried out. R&D is a cost to our business but we learned that we can reinvest the tax relief back into the company. There is nothing to lose from an hour’s meeting, only the opportunity to get something back.”
Paul Darwent, Chairman of Mini Gears states that “R&D Tax Claims did an excellent job in guiding us through the process of making a claim. Working with us they provided a detailed analysis of our R&D work to submit to HMRC.
More recently, research and development has involved first class aircraft seating. The project involved a Japanese airline who had a requisite for the arm of their chair to lift in an upwards point like Mount Fuji. Taking a full year, Mini Gears’ engineers conducted research and designed an original, one-off sample. They were able to modify the pinion to give a better roll and add a different kind of finish to deliver a longer product life.
A portion of the reclaim on this project has been dedicated to the purchase of a Leadwell L TC35C Turning Centre machine which has allowed Mini Gears to manufacture larger car parts (despite what the company name suggests!), in addition to those for niche classic cars.
R&D Tax Claims have been able to help many manufacturing SMEs like Mini Gears to claim back every pound spent on research and development projects. The government backed scheme was designed to provide companies with the opportunity to further develop their products and processes. Over the past seven years Mark Evans and the R&D Tax Claims team have been involved in generating an incredible £23 million in tax savings for customers, which has proven instrumental in enabling SMEs to grow their businesses further.
Total Tax Saving: £665,711