Water, Sewerage & Waste - a 100% year-on-year increase in R&D Tax Credits monetary benefit

The recent HMRC R&D Tax Credits statistics revealed a 26% year-on-year increase in the number of claims in the Water, Sewerage & Waste Sector. However, the value in monetary terms of benefit this sector received for their investment in innovation was a significant 100% year-on-year increase.

The volume of all R&D Tax Credits claims within this sector went from 260 million to 290 million in 2017-8 and SME companies had an 29% increase in the number of claims.

Ron Gibson, Director of Operations, Momentum Group, commented:

“Innovation in this sector is vital as it relates to the sustainability of our environment, ecosystem and the overall cleanliness of our cities, towns and villages. One of our client’s was rewarded with £177K in R&D Tax Credits benefit for technological advancements in waste management.”

Companies who are making appreciable improvements to new processes, products or services in the water, sewerage & waste sectors could be eligible for significant financial benefits for their innovation.

Since its inception, Momentum Group, specialist R&D tax credit consultants, has helped its clients identify over £135+ million in eligible R&D expenditure.

Find out more about R&D Tax Credits