Mining and Quarrying

R&D Tax Credit Examples, Hints & Tips To Maximise Value
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Mining And Quarrying

R&D is rare within the Mining and Quarrying industry, however when R&D is present the claims can be significant. Take a look to see the if you’re eligible and get in touch today.

We know that there are a lot of nuances regarding this incentive but that’s why specialists like ourselves are on the market. R&D is everywhere without you even necessarily realising this. We can conduct a casual meeting with yourself to understand your business, how you operate and what costs you’ve incurred that could qualify. 

 

How Much Could You Receive In

Mining And Quarrying R&D Tax Credits?

Use our free calculator today and you could have a significant benefit amount within 28 days!

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Case Study

Coming Soon: Take A Look At A Company That Created A Component That Could Be Used With Other Tools And Was Able To Withstand Extreme Weather Conditions

Large Companies In The Mining And Quarrying Sector

Here are just a few Mining and Quarrying companies that are prominent in the UK

4 Project Examples

Here are 4 project examples in the Mining and Quarrying sector that would benefit from the incentive

Creating

Creating alternative methods which aim to extract harmful materials from the mining and quarrying sector.

Developing

The development of a machine which aims to undertake processes previously done by employees, generating a decrease in the need for staff.

Robotics

Creating, designing or modifying robotics which have the ability to measure and monitor mines.

Innovating

Innovating methods through technology which make the extraction of the material more effective and efficient.

FAQ

Frequently asked questions.

In short, yes. The best thing to do is to figure out how much R&D you are doing, you should then be able to assign a proportion of your light, heat, water and power that was used for your R&D and amend your claim accordingly. 

One of the biggest portions of claims for the Research and Development tax incentive is circled around staff costs. Whether that might be people directly involved within the R&D or others who might be indirectly involved.

No, you do not need to create a new product to qualify for R&D Tax Credits. For example, if you tweaked a cleaning product which had an advancement, this could be claimed for the R&D incentive. Anytime you have attempted an advancement in the sector, whether this worked or not, could still have the potential to be a qualifying activity.

The Mining and Quarrying industry is rare within R&D. The 2020 statistics published by HMRC show that there were only 50 claims through the sector. That being said, when R&D is present within the sector the claim could be as significant as £90K-100K.

If you think your work in this sector is potentially eligible to claim R&D, get started today!

Where do we start? You can claim for:

  • New machinery creation
  • Developing a robot which provides an advancement in the sector
  • A portion of your utilities bill
  • Subcontractors (up to 65%)

Yes! You are able to claim for unsuccessful projects as this falls under the ‘uncertainty’ you faced during the Research and Development you undertook.

Examples of uncertainty for R&D are;

  • Creating a robot prototype which doesn’t meet the requirements of the desired intention
  • Managing environmental factors, decreasing your carbon footprint during your manufacturing process 
  • Adaptations and amendments in current products and/or services that didn’t go as anticipated and still needs to be amended

Download our Infographic

Find out how simple it is to claim your Software and Technology R&D Tax Credits.

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Insight

Update Article & News.

UK Innovation Strategy

UK Innovation Strategy A recent government paper was published on 22nd July 2021 – titled ‘UK Innovation Strategy: leading the future by creating it’  

Read More »

Manufacturing case study

Looking for a Manufacturing case study? Start my claim Been told you don’t qualify? A window manufacturer, based in the heart West Yorkshire had previously

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R&D Costs That Do Not Qualify

Sometimes the parts you may think qualify, don’t. Here are some examples of what doesn’t qualify in the Mining and Quarrying sector

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Rent

Rent will not qualify for R&D Tax Credits under any circumstance.

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Marketing

Anything that comes under marketing is unable to be added into the costs in your claim. For example, making a website for your company would not be able to qualify.

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Patent Costs

The cost of applying for a patent 'IP intellectual property' is not able to qualify under the incentive.

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Purchasing Land

Purchasing land is another cost which will not qualify for the incentive. So for example, if you purchased land to develop the idea the land will not be allowed to be claim for.

Find more about R&D in your sector!

Depending on your company size, you may qualify under the RDEC scheme (Research and Development Expenditure Credit) or under SME incentive (Small Medium Enterprises).

Find out more about your eligibility today.

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Start your claim with Counting King today!

Don’t hesitate on starting your claim, you could be entitled to money you didn’t realise you could have. With Counting King’s simple process you don’t need to worry about your time invested in the claim.

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