Joanna Edwards | Edwards Diving Services Limited, Caerphilly

Edwards Diving Services actively invests in projects that advance technology. However, they were unaware of a tax credit that could significantly boost their eligible expenditures by up to 130%. After consulting with Green & Co, they filed a back-dated claim and continue to benefit from the relief today.

Edwards Diving Services Take Advantage of Little-Known Tax Credit with Green & Co

About Edwards Diving Services

Established in 1992, Edwards Diving Services is an experienced, multi-disciplined marine and civil engineering contractor. Utilising a diverse range of equipment and specialist expertise, they offer a unique solution to any water-based challenge. The company is run by husband and wife duo, Paul and Joanna Edwards.

Problem

Missing out on Unfamiliar Tax Credit
Due to their work’s unique and high-risk nature, Joanna and Paul regularly invest resources into research projects geared towards innovation. However, until they had a conversation with Green & Co partner Nick Park, they were unaware that they were missing out on a reward in the form of Research and Development (R&D) tax relief.

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Solution

During their discussions with Nick, Joanna and Paul actively identified several areas where they had invested in projects with inherent risk and technical uncertainty. Nick then informed them that the rules for the relief allowed them to backdate their claim for the past two years.

Results

Tax Credit allows Business to Continually Reinvest helped by Green & Co
Edwards Diving Services reviewed their workload and set up a procedure to monitor resources spent on eligible projects. This resulted in additional relief of just under £200,000 against taxable profits, reducing their tax bill by almost £40,000 between 2012 and 2018.

R&D monitoring now forms part of their routine management system, which allows them to consistently reinvest in the business.

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Without Green & Co’s advice and helpful support, we would not have understood or qualified for R&D.

“As a specialist engineering company, our work is niche and doesn’t always fit the predefined categories or descriptions that HMRC use. By developing an understanding of our business and working closely with our Project Manager, Green & Co was able to submit a compliant and successful R&D tax relief submission, which was a fantastic result. Without Green & Co’s advice and helpful support, we would not have understood or qualified for R&D.”

We’re absolutely delighted with the services Green & Co has provided for us; it really helps us work as a more informed and integrated business.

“We didn’t really appreciate what R & D was that, a lot of what we do can be classed as R & D, but when Green & Co came along, they enabled us to understand which parts of our business would be suitable for the R & D claims”

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