Haverhill based Camtech PCB Design design Printed Circuit Boards (PCBs). These thin boards contain electronic components and electrical circuits that power all types of gadgets, from fertility monitors to remote home security devices.
Camtech’s contribution to the products they work on can impact the speed at which a product moves from being a concept, to being available in the marketplace. For clients working at the cutting edge of their industry reliability and speed are of the essence.
The had explored the Research and Development (R&D) Tax Credit initiative previously but believed that they were not eligible.
On contacting Fiscale, they soon realised that there had been a change made by HMRC which now meant they “ticked all the boxes”. A successful claim was submitted and a sizeable cheque was received from HMRC. The directors of Camtech are certainly very happy to have met the Fiscale team!
Camtech work quietly away in the background designing complex PCBs for highly confidential projects. Proudly watching from the wings as, in the fullness of time, another life enhancing innovation makes the headlines for their client.
Camtech harness their extensive knowledge of to design the simplest, timeliest, and cost effective solutions. Their aim is to design a PCB that will technologically advance any product that it’s used in.
Camtech has built a strong reputation as a trusted partner. Their clients know they have the expertise and experience to deliver a “right first time, on time” PCB solution. It is this capability to push the boundaries of PCB design that brings clients back to Camtech, project after project. Their intellectual property in the design of complex PCBs, is the biggest asset the company possesses; it is invaluable.
David Allen, director of Camtech PCB Design was keen to find out if his company was eligible for R&D Tax Credits. Having heard of Fiscale, David rightly wanted to make sure that he would be dealing with a bonafide company. After speaking with his accountant, David was reassured as Fiscale have a reputation for achieving results and hold a 100% success rate.
To successfully claim Research and Development (R&D) Tax Credits for electrical engineering and PCB design, we need us to demonstrate that our client were:
Producing new or improved products, processes or services
Design and development of those products involved technological and scientific uncertainty
The first meeting with Fiscale’s Technical Director, Stephen Bunting, took around two hours. During this time David explained the type of projects that Camtech worked on and the impact that these had on the end products. Stephen confirmed that they were eligible to make a claim and covered all of the steps.
David spent around three days pulling the information needed for the claim together. This involved looking at the projects that had been undertaken to detail what had been done. The delicate issue of client confidentiality was managed through the exchange of Non-disclosure agreements with Fiscale and by Camtech talking to their clients.
The time frame between David making contact with Fiscale and receiving a positive response to the claim from HMRC took less than six weeks. David received a phone call from Fiscale to advise that the claim had been successful around 2-3 weeks after the report was submitted and the cheque arrived a couple of days later. David was delighted with the outcome and the extra funds into his business!
The R&D Tax Credit scheme for small and medium sized businesses has been around for a long time. I remember looking into it a number of years ago and reaching the conclusion that the projects we undertook for clients didn’t qualify as Camtech didn’t retain the rights to the intellectual property for the PCBs we designed.
I am so pleased that I decided to investigate our eligibility for R&D Tax Credits again but this time using the expertise of specialist R & D Tax Credit advisors.
My phone call to Fiscale certainly paid off. They advised that at the end of 2009 there had been a change to the criteria that HMRC used to determine whether a company qualified for Tax Credit. It was no longer necessary to own the intellectual property arising from a project.
Fiscale unravelled the complexity of R&D Tax Credits and made the whole process very simple and straightforward. It did take some of my time to go through the projects that we have worked on over the past few years however from the clear direction from Fiscale I knew exactly what I was looking for. Needless to say the cheque we received from the HMRC generated a very favourable return on investment for my time! I was surprised at how quickly it all went through. We are looking forward to continuing to work with Fiscale and maximising the benefits available from the R&D Tax Credit scheme. We know that working with them is going to save us a lot of money.David Allen, MD of Camtech PCB Design Services
Why not contact us today to discuss your business’ R&D tax relief? It only takes our team around 20 minutes to determine if you are eligible or not.