£200,000 tax rebate helps Peratech develop cutting-edge materials

A TECHNOLOGY company which has spent more than £1m developing its cutting-edge materials science called Quantum Tunneling Composite (QTC) – used by the likes of US space agency NASA – has received a £200,000 tax rebate back from the Government in a move which will help it grow further.

Peratech, based near Richmond, North Yorkshire, has spent 12 years researching and developing its ultra thin, pressure sensing materials, which change resistance when force is applied, i.e. when touched.

The company, which employs 16 staff, has supplied its cutting-edge QTC materials to some of the world’s leading companies and organisations – including US space agency NASA, Nissha, which manufactures touch screen technology, Samsung and manufacturers of jackets with built-in, touch sensitive buttons to control the wearer’s iPod.

Through Darlington-based accountancy and business advisory firm, Clive Owen & Co LLP, Peratech, has been claiming a tax rebate from the Government under its Research and Development tax credit scheme. The figure has recently amounted to £200,000 after four years.

“There is a huge range of markets that this material can be used in to provide innovative solutions, ranging from the computer and electronics industry to mobile phone and credits cards,” said Doug Balderston, Peratech’s Financial Director.

“A lot of people are coming to us now with ideas for its use – so it’s almost like inventing to order. That means even more research and development work so it’s really important that we can get some of the money that we invest back.”

Clive Owen & Co LLP, which also has offices in Durham and York, is urging other businesses to check if they qualify for the Government scheme, which is designed to encourage and support greater investment in innovation in the UK. The tax credit can either reduce a company’s tax bill, or, for some small or medium sized companies, provide a cash sum from HM Revenue & Customs.

Peter Hogan, tax partner at Clive Owen & Co LLP, said: “A lot of businesses think that only people who do research and development in white coats in laboratories can qualify under this scheme but it’s far wider ranging than it appears.

“Any businesses which are trying to refine a particular process or product or developing a new product may qualify – anything where there’s innovation.  In some cases, HMRC will even pay the company that engages in research and development for the privilege of doing so.”

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