R&D Tax Claims has helped an expanding mid Wales bottling company reclaim £412,000 in tax for research and development. Radnor Hills Mineral Water Company received this amount, following specialist help over a four-year period.
Based at Knighton, Powys, Radnor Hills began as a small company packing cuplets for airlines but today bottles a wide range of mineral water, flavoured spring water, sparkling premium pressés, fruit juices and school compliant drinks.
Radnor Hills Managing Director William Watkins said that despite initial scepticism that they had an R&D claim, the process had been straightforward and rewarding.
“Soft drinks is a technical business with some very complicated processes, and the key to this claim was identifying an applicable R&D scheme within our business – establishing what was and was not eligible. The team at R&D Tax Claims understood exactly what was needed, and had an immediate grasp of what we did, steering us in the right direction towards a successful claim.”
R&D Tax Claims has a proven track record in helping SMEs investing in research and development to claim back extra tax relief on every pound spent in developing new products or introducing new and improved processes. Mark Evans, Managing Director of R&D Tax Claims, said:
“One of the major obstacles I face day to day is that companies believe the scheme is too good to be true. But claiming back R&D tax from HMRC is a government initiative, introduced to actively encourage SMEs to claim back money that can be reinvested to support those businesses.”
The R&D claims submitted on behalf of Radnor Hills were technical ongoing projects that included the development of a hot filling process for fragile juices, a specialised cooling and re-cycling system, clean in place system development and integration software development.
Mark said: “Radnor Hills has to use innovative solutions to develop new products and processes in a market dominated by some very large corporations with significant resources. A lot of time is spent by the management team delivering new ideas and concepts that improve productivity and quality.”
R&D Tax Claims works on a no win, no fee basis, and Mark stresses that extensive rewards can be gained without risk and with the minimum investment of time. The firm offers a personal service with experienced consultants and tailor-made reporting, and as well as looking at historical claims, can help plan for future claims.
William added: “The whole process has certainly been worth it. We knew we had a legitimate claim, but Mark and his experienced team ensured that no unnecessary time was wasted. They came out to us, listened, understood and identified our eligibility criteria. “We have been able to reinvest the £412,000 back into the business. There must be so many businesses across the UK that are just not taking advantage of R&D claims.”
Total Tax Saving: £793,534