Craftwood

Kene exceeded our expectations. Their exceptional communication and responsiveness were truly impressive. Our dedicated account managers were always prompt and helpful, making the entire process seamless.

Who was the client?

Craftwood is a leading bespoke seating manufacturer and installer, renowned for their high-quality seating solutions across various sectors. Their expertise lies in creatively solving challenges, whether it’s integrating seating into historically significant buildings like Gordon Ramsay’s Restaurant at Battersea Power Station or delivering unconventional designs for exclusive venues in London. Craftwood’s commitment to quality craftsmanship and innovative problem-solving sets them apart in the industry, ensuring exceptional seating solutions for diverse environments.

Navigating R&D tax credits with Kene

Craftwood recognised the intricacies of R&D tax credits and wisely engaged Kene for their expertise. While Craftwood retained key personnel in finance, production, and leadership roles, Kene took the lead in managing the R&D claim process, ensuring a smooth and efficient experience.

To ease the process, Kene created a comprehensive financial tracking document to guide Craftwood’s finance manager in recording all relevant costs associated with their R&D activities. Additionally, workshops were conducted to identify and categorise all qualifying costs accurately. Through this collaborative effort, Craftwood optimised their R&D tax credit claim while focusing on their core competency of crafting exceptional furniture.

Exploring R&D tax credit benefits

After a thorough review of Craftwood’s R&D activities over a two-year period, we prepared and submitted an extensive claim. This resulted in a significant financial gain for Craftwood, including both a cash payment and a reduction in their corporation tax bill.

The cash obtained through our R&D tax credit claim will be a game-changer for managing pro-forma payments. We can now confidently maintain stock levels ahead of pursuing new projects.

Beyond the immediate financial benefit, Craftwood has acquired an in-depth understanding of the R&D tax credit landscape and the invaluable role experienced specialists like Kene play in navigating it. Recognising the ongoing potential, Craftwood has committed to diligently logging their R&D activities with HMRC, ensuring they continue to reap the rewards of this valuable incentive program. https://craftwood-uk.com/

Kene simplified the claim process for us and we were rewarded with a substantial benefit in return. We will definitely apply for R&D tax relief in the future.