Technology firm expands after R&D tax relief
A supplier to NASA and Samsung, based in North Yorkshire, has invested in cutting edge lab technology after re-submitting a tax claim for continued research and development (R&D).
Peratech, which is based in Brompton-on-Swale, supplies pressure sensitive material integrated with its pioneering QTC technology to organisations worldwide, and was selected by NASA to supply materials for its space exploration robots.
After advice from accountants and business advisors Clive Owen & Co LLP, Peratech was able to open its new lab to improve facilities and further develop its innovative technologies.
Peratech’s QTC technology won the firm a Queen’s Award for Innovation in September this year while NASA also bestowed its Tech Brief Award on the firm for helping to create its “humanoid robonaut”.
South Korean electronics firm, Samsung, has also used Peratech’s QTC technology in its mobile phone keypads to enable the phone to intuitively detect touch from three dimensions.
Doug Balderston, director at Peratech, said: “Our business is based on innovation and a major part of that is our investment in research and development.
“The tax reliefs for innovation are a great boost to our business and Clive Owen & Co’s team makes the most of this for us.”
Clive Owen & Co. worked alongside Teesside University to help businesses claim for R&D at a higher success rate.
Nicola Bellerby, tax partner with Clive Owen & Co, said: “It’s satisfying to be able to give clients this type of support.
“By working closely with Peratech we can understand their business and ensure we advise them of any opportunities during the year.
“The nature of their operation is such that they constantly need to look long term, so by submitting a claim it has enabled them to have the confidence to improve and expand their research facilities.
“The government is encouraging research and development so we are excited to see how this recent expansion will make a difference in the future.”
Mr Balderston concluded: “As our technology advances, we will be in a strong position to become the market leader in our field.
“Being able to take advantage of tax breaks that support the nature of our business means we can re-invest in the facilities we need to ensure our research and development progresses even further.”
This was posted in Bdaily's Members' News section by Miranda Dobson .