At Finch & Associates we have analysed the R&D market and ascertained that the Waste Management and Recycling Sector is one that is likely to be significantly under claiming R&D Tax Relief, as most wrongly assume that waste management and recycling is not a qualifying sector.
We have been working with many medium-sized companies within this thriving sector and have encountered some truly ground-breaking innovative solutions to an increasing problem that is becoming more and more addressed in everyday life. Carbon emissions and related issues are areas that are becoming daily news articles on a global scale and without companies pushing the boundaries of innovation, there will be no solution to this alarming problem.
That’s where R&D Tax Relief can have such a positive impact, not just on the companies that make a claim, but the overall impact on society that it can have.
One example, is a client of ours who has developed a process to successfully recycle redundant and waste televisions and computer monitors, whereby the core components are preserved for re-use. This process involved extremely hazardous materials, which often would emit a high level of dangerous gases when processed. The client successfully developed a machine and accompanying process to elimate this risk entirely whilst at the same time complying with the WEEE regulations.
An important factor that must be emphasised is that not all of the R&D projects have to be specific to the day-to-day activity of the company. Nor does the project have to be successful; in fact we have seen many clients who have attempted to achieve a desired result but found that is was not yet possible with the technology available in today’s world.
It could be creating a new recycling process that has yet been achieved. Or it could be advancing an existing system or process to create a more efficient result.
Due to the increasing demand for everyone to reduce their carbon footprint, Finch & Associates predict that there should be a substantial increase in R&D claims being made by waste management and recycling companies.
To speak to our team about whether you can qualify for and R&D Tax Credit, please call Rachel Finch, Director, on 01275 867350. Alternatively, you can send a message to the team now.