A E Oscroft and Sons has reclaimed over £100,000 under the R&D tax scheme with R&D Tax Claims.
The family business was started by Arthur Oscroft in Redditch in 1947. The company specialises in low to high volume manufacturing and assembly as well as robotic MIG welding, resistance welding, precision machine processes, plating and coating for a global market.
“My granddad used to make toys and bits of machinery in his garden shed”, says Chris Oscroft, managing director. “His day job was at the Austin motor company in Longbridge and his shed became what we would now call a small R&D facility for Austin. He started to do odd jobs for other companies, then in 1947 he installed a power press in the shed and he was away, making parts for Triumph Coventry and later Land Rover.
“My father Chris, now chairman, and his brother Ian, carried on from him and I started work here over 20 years ago in a view to taking the business forward with my cousins Tim Oscroft and Guy Oscroft. We make metal pressings, assemblies and prototype projects in a diverse range of materials for all kinds of industries and offer R&D assistance in product design and development, sharing our knowledge with customers from concept to full production.”
The company recently relocated from a nearby 19,000sq ft site to a 53,000+sq ft site in Washwood, Redditch, investing almost £2m in the move.
“Our biggest client is Spanish chassis manufacturer Gestamp, and much of our work goes into Honda, JLR, Nissan, Renault and Toyota”, says Chris.
R&D Tax Claims consultant Peter Roach handled the reclaim process.
“I’ve known Peter since he was an adviser with MAS (Manufacturing Advisory Service)” says Chris. “I knew about the tax reclaim scheme but we were so busy working on the business we didn’t have time to investigate it. Peter was quickly able to identify the R&D element of our work and to define the R&D stages of our processes to document for HMRC. He is now helping us to record our R&D activity going forward and control it within our management systems, so future reclaiming becomes a seamless process. Peter has been invaluable to us and people like MAS and R&D Tax Claims are part of the reason we are here today.”
“Many first tier companies rely heavily on companies like AEO to do the R&D for them”, says Mark Evans, managing director of R&D Tax Claims.
“R&D is about time, effort and risk taking, and tax credits give business owners the confidence to take that risk. Smart businesses build it into their business model because they know they’ll get it back, even for failures. If the UK is to continue to be recognised as a leader in the automotive sector, our SMEs need support. The R&D tax credit scheme is a perfect example.”
Total Tax Saving: £116,511