R & D TAX CREDIT CASE STUDY 4
We act for a major tyre recycler, a large number of which are from competition cars. They have taken existing technology and extended it to produce an “oven” that melts tyres and enables the extraction of carbon, steel and rubber for subsequent recycling. After initial start-up, the “oven” is fuelled by the gasses released from the tyre breakdown, making it a very environmentally friendly process.
Because the process involved taking existing technology and extending it, the main challenge in the R&D Tax Credit claim was to identify which elements of the activity involved scientific or technological advances. Fortunately, the company was working with different world renowned experts in the recovery of each material. These experts were able to identify the various points at which the existing technologies stopped and the new advances began. This made it much easier for the company to then accumulate the costs from those points on to incorporate later on into the R&D Tax Credit claim.