By the time our client first worked with Invo, he had already invested a significant amount of capital and investment in designing and developing his plant.
Expenditure on plant and machinery doesn’t normally qualify for R&D tax credit relief. However, as our client had spent a large amount of R&D on designing how the plant was put together, we were able to ring fence his investment as revenue versus expenditure, so that it qualified for R&D.
We liaised with the HMRC to authorise reallocating their capital/revenue split, ensuring that there was no risk. We also ensured that all expenditures maximised their tax relief return working closely with their accountant to help them achieve this.