Graham Morton
Corporate Tax Manager
From the word “go”, the team at Inspired were keen to understand our industry, business and operations in detail and worked closely with myself, the product development teams and manufacturing teams to gain this understanding. As a result, the detailed knowledge and strong relationships underpinned a significant tax saving for the UK group through both the R&D and Patent Box tax incentives.
About Terex GB Limited.
Terex GB Limited is well renowned global materials, processing manufacturer. The Company has a long-established track record of innovation, being at the forefront of product development within their industry. Terex design & build support products used in construction, maintenance, manufacturing, energy, minerals, and materials management applications. The business is constantly evolving with new divisions being created to expand into new markets as well as to cater towards client needs in the industry-wide shift towards hybrid and electric powered machinery.
Innovation.
Terex GB Limited and its numerous divisions are constantly pushing the boundaries of product development in order to create as effective and efficient products as possible to cater to their clients’ needs. Naturally, with the unrelenting nature of the construction industry, the products brought to market are subjected to the most rigorous demands – it is no coincidence that the Terex brand has stood the test of time-based on the quality of machines produced.
Collaboration.
INSPIRED collaborated closely with both the finance and engineering teams across the Company to ascertain the level of Research and Development undertaken by the Company. Inspired Corporate Advisory demonstrated significant value to Terex through making the Company aware of the applicability of Research and Development Allowances on the capital expenditure the Company incurred.
In Review.
Given Terex‘s track history of innovation, the Company was aware of the UK’s tax incentives regimes. Inspired, however, were able to demonstrate to the Company, through their industry expertise, the extent to which these regimes could apply. In particular, Inspired Tax Incentives were able to identify both capital and revenue costs incurred in the R&D process that had been missed in prior reviews.
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