We work with a company that offers a bespoke solution to people who have beehives, whether as a hobby or commercially. They have developed a unique product.
With such an innovative product, it was obvious to us that there was a sizeable R&D tax claim ready to be processed and submitted to the HMRC. With a new solution such as this, it is the way in which the problem was solved rather than the end application that is important to the tax man.
Our client has designed a remote monitoring system for beehives. In addition, they collate the data globally to help owners manage their hives. Starting something from scratch takes a lot of effort and investment. The research and testing with a solution like this is huge.
The user interface, the devices in the hives and all of the communication between the two had to be designed to work seamlessly across continents. It helps hive owners to understand what is going on inside their colony and to deal with any issues promptly.
We were able to help the directors understand their business in terms of R&D tax credits. They had access to a great deal of technical data and sales material, but this wasn’t the right kind of information that would bring about a successful R&D tax claim.
It was vitally important to explain the product and the work that went into developing it in terms that the HMRC were able to understand and digest. We took the time to comprehend the business and see it through the eyes of the tax man. Putting a claim in isn’t a guarantee of success, unless you know what you are talking about. Thankfully we do.
The business is constantly improving the scope, relevance and quality of their monitors.
This means that they will be able to access more money from the government through R&D tax credits in the future. We find that progressive companies such as this make research and development an integral part of their business. We support them to make their claims.
The data collected by the beehive monitoring company is used to support government, corporation and general public perception of the importance of bees to the environment. This is a valuable contribution and one that is supported by the R&D tax system.
The beehive monitoring company have made advances to both the technology and the knowledge in their industry. This fits perfectly with the R&D tax system administered by the HMRC. The initial project was only a part of their overall strategy.
Once the money was secured from their first R&D tax claim, they were able to reinvest this in the further stages of their business development. Having access to a stable source of funding such as this is a great way for a business to plan for the future.
This was a highly technical project that encountered some large-scale uncertainties along the way. We helped the beehive monitoring company to explain this to the HMRC and secure a substantial R&D tax claim.