For over a decade, Coltraco Limited has partnered with TBAT Innovation to maximise their R&D tax credit claims. With a commitment to technological innovation across multiple industries, Coltraco works closely with TBAT’s R&D tax credit specialists to identify qualifying activities, optimise claims, and ensure compliance with HMRC’s R&D tax credit schemes. This collaboration has streamlined Coltraco’s R&D tax relief process, allowing the company to continue investing in cutting-edge technology.
Coltraco Limited was founded upon the successful development of the Portalevel: the world’s first dedicated portable ultrasonic liquid level indicator in 1987. This revolutionary device was invented by Eric Hunter, who subsequently founded the business with his son Carl. Eric was a former Royal Navy Submariner with 27 years at sea, who then joined Admiralty Research Laboratories, specialising in sonar technologies, and working in commercial shipping. Carl is a former Royal Green Jacket officer in the Army and built the company with his father, initially with a defence focus. The Portascanner product followed in 1993 to test watertight integrity. Over the past 30 years, Coltraco have continued inventing, with a drive for innovation in technology being at the company’s core.
Coltraco exports to 109 countries and has a range of over 25 products. These products sit across its three key strands of technology: liquid level indication, watertight and compartment integrity testing, and condition monitoring. Today, Coltraco are aboard 17% of the world’s shipping fleet (nearly 10,000 ships), the top 15 Navies, and sell to 50% of the world’s offshore oil and gas firms. Their products are also in service with one of the four major wind power generation companies. The vision of the company is to become the world’s leading manufacturer of integrated management systems in fire safety monitoring and watertight integrity.
Coltraco have been working with TBAT Innovation for 10 years to prepare and optimise their R&D Tax Credits and R&D Tax Credit relief claims. The TBAT team work closely with Adrian Saw, Technical Director at Coltraco to identify and thoroughly understand the R&D projects before qualifying the work and expenditure against the criteria for R&D tax relief. TBAT’s consultants working with Coltraco have an engineering background, which helps us to gain a full understanding of the technology being developed at Coltraco and the benefits it can bring to a host of industries. The information required for the R&D Tax credit claim is usually captured through a series of short teleconference meetings, which are highly effective thanks to the strong relationship that has been built.
Coltraco has developed products to meet many different needs for the monitoring and measurement and sell their products into the maritime, fire safety, defence, power generation, and built environment sectors. TBAT forensically review the product range and work on developing their products, analysing staff activities, subcontractor contributions as well as materials and software expenditure for each project.
A robust technical report is prepared for each R&D tax credit claim, explaining each R&D project in detail. TBAT’s expertise as R&D tax credit specialists ensures that all qualifying costs are identified, maximising the claim potential for Coltraco.
Coltraco plans to continually develop its product range, improving measurement time, sensor accuracy and expanding the range into new sectors, as has been done recently with work on the Portascanner Airtight model for use in the built environment.
TBAT looks forward to continuing to work with Coltraco, ensuring that their R&D tax credit claims are robust and strongly evidenced, with all qualifying costs identified and included. The claim process will also evolve to meet the requirements established in the changing R&D tax credit schemes by HMRC. As trusted R&D tax credit specialists, TBAT remains committed to providing expert support and guidance to innovative businesses like Coltraco, helping them access valuable funding opportunities through R&D tax relief.
"The team at TBAT has been extremely professional, courteous and helpful in their work with us from Day 1. They are very knowledgeable in navigating complexities surrounding R&D Tax Credits and HMRC procedures and have a strong technical background which really helped us in preparing the reports in a timely manner as required for the claim."
Adrian Saw - Technical Director
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