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Goodchild Marine

Industry: Manufacturing
  • Source Advisors helped their client understand the criteria for qualifying for Research and Development tax relief
  • The client realised that some of their ‘day to day’ activities  were in fact innovative and claimable under the R&D tax credit scheme

Our client

Established in 1978, Goodchild Marine builds both commercial and leisure boats, but from modern premises beside the River Waveney. They have an attention to detail and customer focus that makes such a difference in any boat.

Identifying the innovation

Goodchild Marine is always looking for new ways to develop innovative solutions within their business by researching and developing different methodology. They undertake extensive testing and trials on a regular basis to measure performance, accuracy, build and safety.

The effect of combining established techniques with pioneering techniques will result in overall system uncertainty. Goodchild Marine also carry out multiple, varied tests to ensure that the products complied with required industry standards.

R&D does not guarantee success, but the tax relief scheme takes this into account.

The Source Advisors difference

Source Advisors ensured that Goodchild Marine were kept in the loop and understood the application and criteria around the aspects that qualify for R&D tax credits. This enhanced their understanding of R&D and made them realise that what they considered to be day to day activities were in fact innovative and claimable under the R&D tax credit scheme.

In their words

“We actually had never heard of it in the context of reclaiming R&D tax rebates against works carried out historically, as a company we thought that R&D claims were in effect needed to be considered prior to commencing the works, and this seemed without having looked into it to be onerous on the company for information input.

The service was really good and effortless to a great extent on our part and involved mainly a day of 3 of our staff to discuss. This was due to the extremely efficient and able technical specialist, who asked the relevant questions and listed the paperwork backup she required, this was all gathered together and then re issued to us to agree prior to claim submission.”

Sue Goodchild  |  Managing Director,
Goodchild Marine 

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