Great Yarmouth boatyard boosted by R&D tax claim
PUBLISHED: 16:34 04 December 2017 | UPDATED: 16:34 04 December 2017
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A Norfolk boatyard has been boosted by a government scheme after receiving money back on its research costs.
Goodchild Marine Services, based in Great Yarmouth, landed the windfall after applying for the government’s Research and Development (R&D) Tax Relief scheme.
The firm, which has been trading for almost 40 years, repairs, designs and refits vessels.
Director Sue Goodchild said she did not realise her business could claim tax relief on research carried out in the past.
She said: “As a company we thought that R&D claims needed to be considered prior to commencing the work, and it seemed, without having looked into it, to be onerous on the company to provide the necessary information.”
Goodchild was helped to apply for the relief by GovGrant, a firm which specialises in such claims, and estimates 90% of firms eligible for the scheme do not apply for it.