CASE STUDY

Power Health Products

An existing client referred Power Health Products Ltd to TBAT Innovation to help them claim R&D Tax Relief in 2016.

An existing client referred Power Health Products Ltd to TBAT Innovation to help them claim R&D Tax Relief in 2016.

About

Power Health Products has been producing vitamins, minerals, and botanical supplements, sports nutrition, and natural hair and skin care products in Pocklington, East Yorkshire since 1972.

The products that Power Health Products formulate are available online, and in good health food shops and pharmacies nationwide and over 50 countries worldwide. However, with its strong local roots and family bonds (both within management and the workforce) Power Health Products remains committed to the motto…”Made by our family for your family”.

They have a comprehensive range, including many natural products to meet a wide range of health needs. Power Health Products offer supplements to support joints, skin products, sources of protein to help maximise any sports training programme. They also develop bespoke products for various clients.

Approach

In 2016, TBAT helped Power Health Products make their first retrospective R&D Tax Credit claim for financial years 2013/14 and 2014/15 and have worked together on R&D Tax claims every year since.

In their most recent claim period, Power Health Products’ development work included projects that produced new health products by creating and testing new formulations of ingredients in innovative ways; achieving new items such as scalp therapy products, CBD-based products, and vegan products.

Their approach to developing new products included engineering processes, formulation chemistry expertise, their own propriety extraction, and laboratory testing, as well as continuous and rigorous quality assurance processes.

Following an initial kick-off meeting, TBAT arranged targeted information-gathering face-to-face meetings and information-gathering teleconferences with the key team members. Through this, TBAT developed a detailed understanding of the R&D involved in overcoming the technical uncertainties and clearly articulated these in the written technical report, required by HMRC. TBAT simultaneously worked with Power Health Products and their accountants to gather the necessary financial data.

The technical and financial aspects of the claim went through TBAT’s rigorous internal quality control processes to ensure their compliance with HMRC standards. Power Health Products’ accountants were then able to submit their R&D Tax Credit claim. Being able to secure the additional funds via the R&D Tax Credits scheme year-on-year has given Power Health Products the confidence to reinvest in the business, de-risk some of their planned strategic changes, and accelerate the uptake of these plans.

What’s next?

Due to the trust and relationship built since 2016, Power Health Products approached TBAT in 2020, proposing that they undertook their Capital Allowances claim for their factory extension that had recently been completed. TBAT happily began the project and helped secure a significant amount of additional tax relief.

Power Health Products has also joined TBAT’s Partner Referral scheme, referring partners and clients of their own to TBAT, to also claim additional funds through the R&D Tax Relief schemes and grant funding opportunities.

At TBAT, referrals have always been a key source of new clients, and the journey for Power Health Products from being referred, to being a referral partner is a great example of how companies working together can lead to many more businesses benefitting from the R&D Tax Relief schemes.

Testimonial

"TBAT have helped us enormously with obtaining our R&D Tax Credits. They help you step by step with your processes and documentation to support your claim. Without them, I don’t think we would have claimed or been as successful. Highly recommended."

Vicky McIver - Managing Director

Lorna Goodwin

Further Information

Get in touch with
Lorna Goodwin

T: 01332 819740

E: lornag@tbat.co.uk