A County Durham civil engineering and groundworks business has received more than £194,000 in research and development (R&D) tax credits across two claims, thanks to the innovation demonstrated in its projects and the help of tax specialists Access2Funding.
Founded in 2015 and based in Wingate, N&T Civils Ltd carry out high-quality groundworks and civils work across County Durham, Teesside and the North East, and the company has more than 20 years’ experience in the trade.
HMRC’s R&D tax relief scheme for SMEs rewards businesses for investing in innovation by way of carrying out qualifying R&D activities, with the incentive being a reduction in corporation tax or a cash payment.
N&T Civils Ltd qualified for R&D tax credits for their work on large-scale jobs that required innovative solutions and problem-solving to overcome the issues faced by the team. Within this sector, it is essential to effectively develop solutions as large projects cannot be halted for long periods of time due to cost loss and wastage reasons. An example of a qualifying project was when the business was contracted to work on the build of a fire station and fit suitable drainage on the site. Upon encountering problems, N&T developed a new solution after various trials and adaptations, and the challenges were overcome. This project achieved an advancement within their industry due to the client developing a novel method of altering the site, of which the knowledge was not available in the sector to carry this out.
Darren Taylor, Commercial Manager at N&T Civils Ltd, said: “I received a recommendation for Access2Funding from one of our suppliers, after another R&D company had contacted us but didn’t really understand the business. Straight away, Owen Harvey in the R&D team had a totally different way of dealing with things, he asked and answered questions, is very knowledgeable in his field, and was easy to deal with. Overall, it’s just what you need!”
N&T Civils Ltd is using the claim money to reinvest into the business, including purchasing a new grab vehicle.
Owen Harvey, R&D Client Account Manager at Access2Funding, said: “By its very nature, the civil engineering sector poses many opportunities to innovate, as problems crop up in projects and businesses must adapt and overcome to achieve a solution. Yet so many qualifying projects are being undervalued as day-to-day business when they could be put forward as part of an R&D tax credits claim. It is a pleasure working with N&T Civils and playing a part in their business growth!”
To find out more about R&D and the engineering sector – and to see if you could be eligible
– get in touch on 0333 990 0125 or fill in our contact form here.