Murphy & Son saves £100,000 with R&D

16 May 2021 by
Murphy & Son saves £100,000 with R&D

Brewing supplies and consultancy business Murphy & Son has saved almost £100,000 over the past three years due to product development.

The company has been working on a number of projects, including testing levels of proteins and tannic acid when creating a more sustainable cloudy consistency for beverages, working towards the production of vegan beer and manufacturing its remodelled layer board. Launched in 2018, the board enables brewers to transport stock sustainably by creating a product that is both user-friendly and recyclable.

Research and development (R&D) tax returns – which were secured by accountancy firm UHY Hacker Young Nottingham – have played a key part in the success of these projects, the company said.

Charles Nicholds, managing director at Murphy & Son, said: "Innovation and technical support are incredibly important parts of our business. We are constantly striving to develop and bring new products to the market, improve our own manufacturing processes and help the industry with beverage storing methods. Now more than ever, it's essential that we stay ahead of the curve and put time, money and resources into developing our offering as a company."

The tax relief was introduced by the government in 2000 to incentivise SMEs by allowing them to claim an enhanced tax deduction for work on R&D projects.

Murphy & Son benefitted from additional tax relief on 130% of all costs attributed to its R&D, including lab equipment and consumables, product trials and testing, and staff costs. UHY Nottingham also secured funds for an element of the business' utility bills, including water, fuel and power costs.

James Simmonds, partner at UHY Nottingham and head of the firm's national drinks sector group, said: "We have a longstanding relationship with Murphy & Son, so we're very happy that we've been able to support the team in their endeavours to creating revolutionary brewery solutions.

"By identifying all aspects of the business' recent projects that qualified for R&D relief, we've been able to supply the company with essential funds to ensure the brewery sector continues to progress and innovate – despite the difficulties that have recently fallen upon the industry following Covid-19."

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