BUILDING products manufacturer the Wetherby Group has recouped nearly £45,000 it invested in research thanks to a new partnership helping businesses claim tax credits.

Accountants Clive Owen & Co, which has an office at Northminster Business Park, York, has teamed up with the University of Teesside to assist businesses in claiming for Research and Development (R&D) tax credits from HM Revenue and Customs.

The partnership recently resulted in a successful claim for the Wetherby Group, based in Dalton, near Thirsk, after the firm had invested significantly in research into a superior exterior insulation cladding system.

Alex Chalmers, managing director of The Wetherby Group, said: “Our core strategy is to continue to innovate and invent new high-performance, eco-friendly building products, to support the construction industry.

“Wetherby have invested heavily in R&D for decades, independent of any support from Government. Now, by working with Teesside University and Clive Owen, we understand what we need to do to meet the R&D claw-back criteria laid out by HMRC. This support is allowing us to recycle investment straight back into our R&D programme.”

The partnership has been designed to make the claim process smoother for businesses. Staff from the university provide an impartial assessment through a technical report on the nature of the research, advising what can legitimately be counted as research and development to help with the validity of the claim. Clive Owen & Co then work out the value of this research and calculate how much the company is entitled to claim.