R&D Tax Credits for Apparel and Accessories: over £37,000 in government funding claimed by apparel wholesale company under HMRC scheme.
This case study details a successful Research and Development (R&D) claim in the manufacturing and sourcing sector. The client has developed a matching platform, intended to connect designers with international manufacturers.
The client’s £37,000 claim relates to the creation of a production management tool. This tool consolidates all communication and technical information for manufacturers to one location. Additionally, the platform provides a lean communication system which allows development work between brands and manufacturers.
Challenges have included having to build an entirely bespoke platform where no open-source solution exists. The client also had to use automation and intuitive UX to translate designer ideas into manufacturer’s technical documentations. They also faced the challenge of integrating a Rails backend to a React frontend.
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At R&D Expert, we are increasingly identifying many companies working in the sector that could benefit from this important source of funding. Many more businesses can increase funding for further innovation by claiming as much as they are entitled to in R&D Tax Credits for Luxury Cosmetics product development.
Unfortunately, due to confusion over the government-backed funding, many companies are yet to claim the tax relief or cashback they deserve. We generally see businesses falling into two categories. First of all, businesses that are yet to claim at all as they do not realise they are eligible. Another scenario we regularly see are businesses not receiving the credit they deserve because they have not optimised their previous claims. However, we have many examples of previous success stories. So, it is always worth speaking to a Specialist. Because only the minority of cases are straightforward.
How do I know if my apparel and accessories company could claim R&D Tax Credits? Consider:
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We are here to help. If you would like to know more about R&D Tax Credits for apparel and accessories or you would like to arrange a free consultation with our team of R&D Experts, get in touch today. We will be happy to discuss whether any innovative projects your company has developed may be eligible for R&D Tax Credits. Apply now or get in touch with us today: email@example.com T:0333 050 3995.