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SOMETIMES a second opinion is vital as Yorkshire-based Moorland Toolmaking Co. Ltd discovered when their accountant told them they didn’t qualify for R&D tax credits.

MOORLAND Toolmaking Company is like every other specialist manufacturer, determined, passionate and focussed on designing and developing great new products that solve their customers’ problems.

When MD, Graham Harrison, lead a management buyout he continued to rely on the businesses accountants for financial advice ignoring the potential for a cash injection that R&D tax credits might offer because he was told the company didn’t qualify.

Specialising in plastic injection moulds and precision engineering for the offshore, automotive and aerospace industries the Ann Street business had its hands full making bespoke tools.

“We knew that our work involved technical uncertainty and risk, but our accountant suggested that it wasn’t enough to warrant an R&D tax credit claim,” said Graham.

“A chance conversation with a business associate about R&D tax credits made me look again and he suggested we talk to Jumpstart because of their expert team.

“Jumpstart has a team of qualified engineers and technicians who understand our industry and what HMRC is looking for.  They investigated our processes and products in detail and helped us construct a robust case to present to HMRC.

“The tax credits we have been able to reclaim have been invaluable in financing machinery and tooling that has worn out and needs replacing.  It allows us to continue to invest in further Research & Development which helps grow our business.”

Moorland Tooling’s experience is not unique among specialist engineering companies whose own professional advisors often don’t appreciate the subtleties of R&D tax credits.

Nicole Ballantyne is the Yorkshire BDM for Jumpstart: “Accountants are asked to help business customers achieve greater profitability and private clients save tax.  Jumpstart can be an additional expert adding value to their specialist customers who appreciate the chance to reclaim money that they can then reinvest into their businesses.

“We work closely with professional advisors, both financial and legal to ensure they can maximise their clients’ R&D entitlement legitimately.”

"We were totally stunned at the amount claimed"

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