Manufacturing Robotics

Innovation funding in advanced manufacturing

The government’s Modern Industrial Strategy aims to deliver support for eight high growth sectors, including advanced manufacturing. It is a sector that ForrestBrown has an established track-record of supporting and our expert team can assess your eligibility for a range of innovation incentives to support growth, whatever the size of your business. This includes R&D tax relief, Patent Box, grants and capital allowances. Our experience in the advanced manufacturing sector means that you’ll always receive targeted advice from a team of trusted tax experts and industry-experienced sector specialists.
Manufacturing drill

What is the Modern Industrial Strategy?

The Modern Industrial Strategy is a 10-year plan to deliver certainty and stability to businesses to invest in high growth sectors. Eight sectors have been prioritised for growth and investment, including advanced manufacturing.

The focus will be on six industries: automotive, batteries, aerospace, space, advanced materials and agri-tech. Designated investment zones in areas such as the East Midlands and Greater Manchester will provide hubs for growth, alongside targeted AI growth zones.

The value of R&D tax relief in advanced manufacturing

Whatever your innovation, if your company is creating new technology or applying existing technologies in new and novel ways, you may be eligible to claim R&D tax relief. We can help by reviewing your eligibility, notifying HMRC of your intention to claim and processing your claim. 

Opportunities for innovation

From materials utilisation to predictive maintenance, innovation in advanced manufacturing is broad. Below are just a handful of the ways in which innovation is taking shape in the sector.

Why claim R&D tax credits with ForrestBrown?

Our multi-disciplinary team is made up of chartered tax advisers, accountants and industry-experienced science and technology specialists. They bring unmatched expertise to your business to help you secure the funding you’re eligible for.

Our industry-experienced sector specialists have hands on experience of manufacturing and will work with your competent professional to review your projects and assess your R&D.

Our technical expertise is complemented by secure systems and technology to process your claim. This gives you confidence that your claims will not only be prepared rigorously, but efficiently and securely too.

Grants

Whether it’s determining your eligibility or putting together a formal grant funding application, we’ve got the expertise to support your business. Our grant advisory team, led by Karim Budabuss, has extensive experience of advising clients on accessing grant funding in the UK.

Our expertise spans both negotiated and defined grants, as well as a range of grant funding bodies including government departments, Innovate UK and DASA. We can also assist with post-grant-in-principle due diligence where conflicts arise.

Capital allowances

Growth in the advanced manufacturing sector will likely mean investment in new manufacturing facilities or scaling up existing ones. If your business falls into that category, why not explore your eligibility for capital allowances relief?

It can bring significant cash flow benefits for any eligible capital expenditure, such as plant and equipment, providing valuable resources to reinvest in further growth.

Our capital allowances team, led by Peter Reynolds, has considerable experience working on asset taxation issues, as well as in the construction industry. That perfect combination of industry experience and technical authority enables ForrestBrown to deliver practical, actionable advice to support your business.

Examples of advanced manufacturing firms advised by ForrestBrown

Precision engineering company

A novel development by this engineering company saw it produce a multi-axis adaptive alignment solution for machining operations, enabling precise and automated handling of complex part geometries. Through the creation of advanced software algorithms and program logic, alongside proprietary hardware designs, the solution improved efficiency, reduced lead times, and enhanced rapid prototyping capabilities in manufacturing.

Benefit: £45k

Software and electrical engineering company

This company develops advanced software engineering and IoT solutions for building management and service optimisation. They enhance the functionality, reliability, and integration of connected devices used to monitor and control building operations through the creation of digital twin systems, performance modelling platforms and real-time alert monitoring.

Benefit: £90k

Software engineering company

This digital engineering and research organisation works across varied sectors including aerospace and automotive and use high-fidelity modelling and simulation to design, test and optimise systems before they are built. They develop digital twins, engineer high performance compute infrastructure and innovate within machine learning to support model-based systems engineering.

Benefit: £120k

Speak to us

We’re passionate about helping our clients access the valuable funding they deserve for their innovation. Speak to our team to discuss your business today.