Ibstock Brick
UK's largest brick manufacturer
21 manufacturing plants in the UK
200+ years of experience
1500 employees
Ibstock, one of the UK’s largest manufacturers of building products, hadn’t made an R&D incentive claim in over 6 years and was leaving a large sum of relief unclaimed.
Hadn’t Previously Claimed
Many companies, unsure of whether their innovation qualifies for HMRC’s R&D tax incentives, often don’t make the most of the opportunities available. Whether it is increasing the efficiency of your processes, our deep tax and technical knowledge, or our experience working alongside HMRC, Ayming are best placed to educate your team on R&D tax relief, help them understand its impact on the business, and then deliver a thorough, comprehensive R&D tax relief claim.
In order to provide the best possible service to our clients it is important that we truly understand their business, as much as we do tax. Ayming employs not only tax experts, but industry specialists such as chartered engineers, software developers and chemists.
Ayming has a long track record delivering R&D tax relief claims. With over 30 years’ experience in innovation incentives across Europe, and since the inception of the UK’s R&D tax relief scheme in 2000, Ayming has analysed thousands of R&D projects, and helped its clients claim over £300m in tax relief.
What we did
Ibstock’s size and operational complexity made it difficult to assess where it qualified for Research & Development (R&D) tax breaks – so much so that, according to Shamshad Khalfey, Head of Tax at Ibstock, the company had not claimed R&D tax relief over the previous six accounting periods.
A project of this size was dependent on organisational buy-in. Ayming sat down with each division of Ibstock to ensure they understood the R&D incentive scheme and its business impact. To ensure that the tactics would be comprehensive, Ayming deployed a team from various backgrounds, including chartered engineers and doctorates.
Ayming’s experts worked collaboratively with Ibstock managers and technical teams to develop a comprehensive understanding of the company’s projects and activities. This enabled Ayming to best advise Ibstock on how to maximise R&D tax claims without introducing financial risk.
Results
The financial impact has been substantial. Ibstock went from claim values of £0 in previous accounting periods to £10 million in its first claim. Subsequent claims have also reaped similar multi-million-pound gains.
More than just a scalable, replicable and lucrative claims process, Ayming and Ibstock have laid the groundwork for a collaborative relationship.
Our previous claims were insignificant, compared to what we achieved with Ayming. The board was delighted with the results and overall experience. Ibstock continues to work with Ayming to build processes into our business strategy to facilitate future claims and to support a successful and rewarding innovation culture.Shamshad Khalfey, Head of Tax at Ibstock
