Imageco were introduced to Kene Partners through their industry association. They were previously unaware that they qualified for R&D tax credits, but since working with Kene Partners have received substantial sums to help fund future innovations.
Who was the client?
As one of the UK’s leading print companies specialising in large format printing, signage and exhibition displays, Imageco are consistently pushing the boundaries of their industry to meet the needs of clients. For them, innovation is key to remaining competitive and maintaining their sector-leading reputation.
“Despite being new to us, we had no concerns claiming R&D tax credits with Kene Partners; we were excited by the potential.”
What was the challenge?
The team at Imageco are regularly researching and developing new materials, media formats and processes in order to reduce the turnaround time for clients.
“The work we do is very bespoke, creative and technical, we spend a lot of time and money trialling ideas. To be able to claim back on this gives us stability and confidence to do the research.”
Imageco have gone above and beyond to create as many sustainable or eco-friendly products as possible, whilst still delivering the same high-quality outcomes. Their dedication to sustainability has seen them earn many accolades over the years to echo the outstanding work they continue to produce. Regardless, investment in innovation is expensive and Imageco were not previously receiving any financial support for the new knowledge they were contributing to the sector.
“With the current climate as it is, where materials and general costs have increased, it is vital that we are able to offset our dead time and development in order for our investment in innovation to be commercially viable.”
Identifying the R&D
Upon learning of the R&D tax incentive scheme from Kene Partners, Imageco hoped to receive some tax benefit to support them in their creative and forward-thinking ideas.
“When we started working with Kene Partners, we didn’t realise what potential it had for us in the R&D work we did. The team brought it to our attention and since then, we can understand where the possibilities lie for a claim.”
To ensure all eligible projects and costs were accounted for, we visited Imageco’s printing facility to see how they functioned day-to-day. This enabled us to better understand all aspects of the business. The team looked at the types of projects Imageco were involved in and demonstrated that there were solid grounds to submit an R&D tax claim.
“Kene Partners discussed our work and ask questions as we showed them around our facility. They said that we had a great case for a claim which proved to be more than true. I was blown away when I saw the first claim figures.”
Once the necessary technical and financial information had been gathered, we produced a maximized and robust report to accurately quantify Imageco’s investment in R&D, in line with the governing legislation.
“The best part is knowing that we can spend time on R&D and have financial support to back it up. There is a small amount of work I need to do on the claim which adds to my time, but it is very much worth it.”
The result
We were delighted with the rebate we achieved for Imageco which exceed expectations and bought vital cash into the business to fund future R&D projects.
“We will always continue to work with Kene Partners. Had it not been for them, we would have had no idea that the scheme was possible. We continue to have fantastic guidance and great returns on our R&D investment, which has been crucial to Imageco’s progress – improving cash flow and bringing more stability during difficult times.
I encourage anyone who thinks it isn’t worthwhile to look at the scheme and then think again; you may be very surprised.”
European Sign Federation