Founded in 1974 and with a reputation for innovation, quality and responsiveness, HL Plastics (HLP) is one of the UK’s leading PVCu extrusion companies. Employing over four hundred people, its premises consist of a purpose-built extrusion plant, warehouse and offices in Derbyshire, together with one of the biggest PVCu mixing plants in Europe.
HLP has successfully used the R&D tax credit scheme for over a decade, with Source Advisors handling their claims. This commitment to new product and process innovation has underpinned HLP’s substantial growth over recent years. In any one year, the company will have several live innovative projects across manufacturing and operations, from developing new high-speed manufacturing capabilities, to seeking advances in the field of plastic extrusion, to developing a unique material handling system.
Our in depth knowledge of the R&D tax credit scheme our understanding of the HLP operation means that we are ideally placed to quickly and effectively identify and maximise the qualifying R&D activity across their mix of completed, ongoing and failed projects.
But more than that, we have identified an inventive and patentable process step which affected all products during their manufacturing stage. v was able to significantly broaden the potential scope of qualifying IP revenue included in the client’s annual Patent Box tax relief claim.
Our unique blend of specialist in-house commercial, technical and Intellectual Property (IP) expertise enables Source Advisors to offer an unparalleled service to our clients across both the R&D tax credit and Patent Box tax relief schemes.
“One of the many advantages of using Source Advisors to handle our R&D tax credit claims over the years was that in knowing of our patent portfolio, when the Patent Box came into effect in 2013, Source Advisors was able to give us expert advice and ensure we elected into and benefitted from the scheme at inception.
Source Advisors’ skilled IP professionals have subsequently identified patentable elements around process developments which will ultimately enable us to broaden the scope of revenues that go into our annual Patent Box claim.”
RL Hartshorn | Managing Director,
HL Plastics Limited