CNC Technology Limited

About our client:

Introduced to iCS by their accountant, CNC Technology Ltd (CNC), provides high quality precision engineering services to diverse markets including automotive, aerospace, energy, oil and gas and nuclear energy. The company specialises in taking initial concepts through the design and development stages and into short run production.

Why did they need iCS’s support?

CNC wanted controlled and safe growth, by avoiding debt and bank borrowing. The contribution from the R&D Tax Claim scheme was a welcome alternative to interest bearing loans and overdrafts.

Working from CNC’s “side of the table”, they qualified for an R&D Tax Claim and we worked together with their accountants to support them with their first claim. The claim was centred around their activities when trialling and developing systems to improve performance, the manufacturing of prototypes and innovative reverse engineering techniques designed to reduce cost and improve quality.

The results:

• For only 2 hours management time, CNC received a cash benefit of £23,380 from the R&D tax scheme and will continue to pay reduced corporation tax in the future through subsequent claims
• Despite the client’s initial scepticism about the scheme, iCS facilitated a highly profitable and successful first R&D Tax Claim for CNC.