In our last article, we considered how the term R&D can discourage some companies from looking into the support available to them. For some people, ‘Research and Development’ has overtones more closely related to high-tech than to a regional manufacturing company. However, those businesses who recognise that the tax support is focused at ‘on the ground’ activities can reap considerable benefits.
By way of an example, Hazlewoods has been working closely with Muddy Boots Ltd. for 7 years assessing which elements of their operations qualify for R&D tax credits.
Who are Muddy Boots?
Muddy Boots was founded over 20 years ago in Herefordshire, developing software that enabled growers and agronomists to manage their farms out in the field. The company quickly moved up the supply chain to work with some of the largest fresh produce retailers and food brands in the world, including Unilever, Marks & Spencer and Morrisons.
What do Muddy Boots do?
The cloud infrastructure that the company has developed over time, allows data to pass up and down supply chains, enabling customers to instantly view, manage and report on the quality, traceability, and compliance of their products and suppliers. Having instant access to their data, customers can make business critical decisions that help them to reduce waste, increase efficiency and mitigate risk.
How has Hazlewoods helped Muddy Boots?
The software development work that Muddy Boots undertakes qualifies for enhanced R&D relief and Hazlewoods has helped the company to secure tax savings through this scheme.
David Clift, Partner in Hazlewoods Innovation and Technology team said, “Muddy Boots is an example of a local company that we have worked with to utilise the tax support available for a company. A major part of the advice and assistance that we provide to companies in this regard includes helping them to understand what constitutes ‘R&D’ for these purposes and what can and cannot be included in the R&D tax credits claim. We effectively work with the company as part of their team to collate the details for the claim, which we then prepare and file with HMRC. It’s a great opportunity for us to learn more about the exciting developments at the company that will take the business forward.”
How can we help you?
If you think your company could benefit from exploring R&D tax incentives and credits, or if you are unsure whether your company qualifies for them, do not hesitate to get in touch with our Innovation and Technology team at email@example.com or 01242 680000.