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Engineering Sector
Engineering necessitates a significant amount of research and development. This can take the form of identifying and resolving potential risks, depending on the discipline.

With engineering encompassing such a vast range of industries, ranging from aerospace to transportation, our lives are impacted daily by changes within this sector. As a result, research and development is an essential element of day-to-day practice for those working in this field.

Being eligible for R&D tax credit centres around two key areas. You need to be either:

  • Producing new or improved products.
  • Design and develop a product involving some degree of uncertainty, for which the answers were not obvious.

Engineering necessitates a significant amount of research and development. This can take the form of identifying and resolving potential risks, depending on the discipline. This may also entail the creation of computer simulations and models. All of this occurs in tandem with ongoing testing and refinement until a solution is identified.

Examples of technological uncertainties within Engineering

Regulatory Compliance

Distinct global marketplaces will have different rules and regulations covering a wide range of topics. These changes in standards have the potential to produce a slew of ambiguities that will need to be addressed. Even if they appear to be straightforward to execute at first, they can need a lot of research and development (R&D) to make them function. These revisions may cause the project to have only a passing similarity to the initial design in some situations.

Adapting existing technologies to aid a specific purpose

Engineers will frequently encounter technological uncertainties while developing a new product or enhancing an existing one. While working with new and innovative technologies, these are frequently considered when determining whether or not they are appropriate for the task at hand or how they will interact with current components.

Integration of existing components

Even when using “off the shelf” components, creating products that operate together can pose some difficult challenges. This is because it is normal for a product to undergo significant reworking in order to ensure compatibility. Engineers will have to create new components if old ones aren't available. As a result, projects may require extensive trial and revision in order to function properly.

Choice of materials

When it comes to selecting materials for new products or components, trial and error will be necessary. Some materials will be unsuitable for the job; for example, they may need to be waterproof or support a specific amount of weight. In some cases, a material will be incompatible with the build since it will directly conflict with other materials.

We would welcome the opportunity to discuss your business and help you assess the potential benefits which might be available to you under the R&D Tax Credit regime. Please contact us at
info@jjmkconsultants.co.uk