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You are at:Home»Finance»County Durham Groundworks Firm Lay Foundations for Growth After Securing £194,000 for Innovation
N&T Civils Ltd

County Durham Groundworks Firm Lay Foundations for Growth After Securing £194,000 for Innovation

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Posted By sme-admin on August 10, 2021 Finance, News

Founded in 2015, N&T Civils Ltd carry out high-quality groundworks and civils work across County Durham, Teesside and the North East, and the company has more than 20 years’ experience in the trade.

N&T Civils Ltd qualified for R&D tax credits for their work on large-scale jobs that required innovative solutions and problem-solving to overcome the issues faced by the team. Within this sector, it is essential to effectively develop solutions as large projects cannot be halted for long periods of time due to cost loss and wastage reasons. An example of a qualifying project was when the business was contracted to work on the build of a fire station and fit suitable drainage on the site. Upon encountering technical problems onsite, N&T developed a new solution for the industry. After various trials and adaptations, the company was able to overcome a number of technical uncertainties to develop a successful solution. This project achieved an advancement within science and technology due to the client developing a novel method of design and engineering, where the knowledge was not readily available within the sector.

N&T Civils Ltd is using the claim money to reinvest into the business, including purchasing a new grab vehicle.

HMRC’s R&D tax relief scheme rewards businesses for investing in innovation by way of carrying out qualifying R&D activities, with the incentive being a reduction in corporation tax or a cash payment. R&D tax returns were secured by the firm’s advisers, R&D tax specialists Access2Funding, who identified all aspects of the business’s recent projects that qualified for research and development relief.

Darren Taylor, Commercial Manager at N&T Civils Ltd, said: “I received a recommendation for Access2Funding from one of our suppliers, after another R&D company had contacted us but didn’t really understand the business. Straight away, Owen Harvey in the R&D team had a totally different way of dealing with things, he asked and answered questions, is very knowledgeable in his field, and was easy to deal with.”

Owen Harvey, R&D Client Account Manager at Access2Funding, said: “By its very nature, the civil engineering sector poses many opportunities to innovate, as problems crop up in projects and businesses must adapt and overcome to achieve a solution. Yet so many qualifying projects are being undervalued as day-to-day business when they could be put forward as part of an R&D tax credits claim. It is a pleasure working with N&T Civils and playing a part in their business growth!” 

If you’d like to find out if your business is eligible for R&D tax credits, visit the Access2Funding website.

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