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. 

4 Project Examples

Below are project examples that would qualify for R&D tax credits in Mining And Quarrying

Counting King Manufacturing Sector Specific R&D

Developing

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

Creating

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

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Robotics

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

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Innovating

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

Costs Which Don't Qualify

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

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Rent

Rent does 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.

Legal actions - Blue

Patent Costs

The cost of applying for a patent 'IP intellectual property' is not able to qualify under R&D Tax Credits.

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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.

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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Find out how simple it is to claim R&D Tax Credits in Mining And Quarrying

Start Your Claim With Counting King Today!

Don’t hesitate on starting your claim. The government would like to say well done for your innovate hard work so check if you could be entitled to the money they are offering to support your business. With the Counting King simple process, we will go through if you are eligible and if you are we will go through the process and work out the amount you can claim.  It is a process we are experts in and will take the lead on producing for you.

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Quick Q&A

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

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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