21 March 2016

Cooden Tax Consultants help to secure Tax Credits

PRESS RELEASE

March 2016

A team that’s won multiple awards for engineering and innovation, and is building a world-record challenging electric motorcycle, seems an obvious candidate to claim Research and Development Tax Relief, but it wasn’t until Phil Edwards, Project Director for ‘Fast Charge’, met Simon Bulteel of Cooden Tax Consultants that he realised how valuable this could be.

Phil is Managing Director of Weald Technology from Uckfield, East Sussex, and has spent four years on design and fund-raising to get this showcase for world-class British engineering underway. Having secured a grant from Innovate UK the team are now in the process of building the motorcycle.

Phil told us “I’ve heard a lot about R&D Tax Relief but knew, particularly as we are partly grant-funded and also part of a consortium, that it wasn’t as straightforward as some may suggest. I knew it was worth claiming but wanted to make sure that the process would go smoothly and that we were claiming all that we are entitled to”.

Whilst wondering what to do about it, Phil ‘met’ Simon Bulteel from Cooden Tax Consultants when they both participated on #SussexHour on Twitter.

Phil added “We exchanged a couple of messages. When I realised that Simon, an accountant by training, had worked for motorsport and other high technology companies, he was clearly someone who would both understand what we were doing, and guide us through the process”.


Phil Edwards and Simon Cooden meet at the Kent Manufacturing Expo, October 2015

The two companies teamed up in late 2015 and Simon commented “I’d been engaging Phil on #SussexHour on Twitter for a while and I was delighted when he suggested we should meet up for a chat. His Fast Charge project is the perfect example of how innovation can be rewarded with Research and Development Tax Relief.”

He added “When we met up it became clear that Phil has a number of projects on the go and our work with him will be a case of interpreting which work on which project will be eligible for which strand of R&D Tax Relief. Whilst the Tax Relief is extremely generous (for a loss making company doing their own R&D it can be up to 33.35% of the initial spend), it can also be extremely complex to understand how the rules can and should be applied. By choosing to work with a specialist, Phil will be accessing detailed technical advice, a very robust claim and hopefully a significant tax refund.”

Ends

Note to Editors

Weald Technology Ltd, based in Uckfield, East Sussex, is leading the ‘Fast Charge’ project. They have been involved in low carbon and sustainable transport engineering for a number of years, winning multiple awards for innovation. For further information about Weald Technology please call Phil Edwards on 01825 761890, 07737 665061 or email phil@weald-tech.co.uk

Fast Charge is a 1,000hp electric motorcycle capable of speeds in excess of 200mph in just a few seconds, and is supported by the UK governments’ innovation agency, Innovate UK. The project, as well as aiming to capture a world record for electric vehicles, is being used to encourage the next generation of school leavers to consider taking up Science and Engineering careers. The project website is at www.fast-charge.org. Contact Phil Edwards on 01825 761890

Cooden Tax Consultants, based in Bexhill-on-Sea, East Sussex, is a specialist tax consultant. They work with innovative SME’s to identify their eligible projects and then to claim Research and Development Tax Relief, Patent Box and Video Games Tax Relief. For further information, visit their website www.coodentaxconsulting.co.uk, contact Simon Bulteel on 01424 225345, or email simon@coodentaxconsulting.co.uk

Lightweight wheels from Dymag help Fast Charge

PRESS RELEASE

March 2016

Phil Edwards, Project Director for Fast Charge Electric Drag-Racing, met Dymag recently Autosport International and shook hands on factory support for the project.

Phil is Managing Director of Weald Technology from Uckfield, East Sussex, and has spent four years on design and fund-raising to get the Fast Charge project underway. Just about every part of the bike is bespoke, and manufacture is currently underway with the team planning to be on the track in late 2016.

Using every ounce of energy stored in the bike’s ultra-capacitors is vital if they are to beat the American constructors who currently hold the record with a run over a quarter-mile in 6.94 seconds at 201 mph.

Phil told us “We can’t afford to waste any energy getting off the line; with only just over 6 seconds to play with a slow start is simply not acceptable. The ultra-lightweight carbon composite CA5 front wheel from Dymag will really help, as will the low rolling resistance from the ceramic bearings they've fitted.”

Phil Edwards with the Dymag CA5 Carbon Front Wheel


He added “We have to make every bit of energy work for us from the moment the lights turn green and Dymag are a key contributor towards that goal. It’s particularly satisfying, with this being a showcase for high-quality British engineering, to have Wiltshire-based Dymag involved.”

Nick Hill, Sales Director at Dymag, welcomed Phil to the factory recently to hand-over his wheel, show him the manufacturing process, and introduce members of the team that had manufactured his wheel.

Nick commented “At Dymag we are very proud and excited to have produced one of our CA5 Carbon Composite wheels for the Fast Charge drag-bike. Our CA5 Carbon wheels have been used to great effect on many drag racing bikes over the years so we were very confident that we could produce a product that will exceed the Fast Charge needs. This is such a forward thinking and innovative project, myself and all at Dymag wish Phil and everyone involved with the Fast Charge drag bike every success in their quest to set a new World Record”

Ends

Note to Editors

Weald Technology Ltd, based in Uckfield, East Sussex, is leading the ‘Fast Charge’ project. They have been involved in low carbon and sustainable transport engineering for a number of years, winning multiple awards for innovation. For further information about Weald Technology please call Phil Edwards on 01825 761890, 07737 665061 or email phil@weald-tech.co.uk

Fast Charge is a 1,000hp electric motorcycle, capable of speeds in excess of 200mph in just a few seconds and the project is supported by the UK governments’ innovation agency, Innovate UK. The project, as well as aiming to capture a world record for electric vehicles, will be used to encourage the next generation of school leavers to consider taking up Science and Engineering careers. The project website is at www.fast-charge.org. Contact Phil Edwards on 01825 761890


Dymag Wheels, based in Chippenham, Wiltshire since 1972 is an elite, British performance wheel brand with an unparalleled history of innovation and technology in motorsport and production road wheels. Dymag have led the way in wheel design and production for more than four decades, producing the world’s first 3 spoke magnesium motorcycle racing wheels. Building on their success, Dymag expanded into manufacturing forged magnesium wheels, forged aluminium wheels and finally pioneered lightweight carbon composite wheels for both Motorcycles and Cars! Dymag’s racing pedigree is second to none, having worked with the World’s leading F1, Indycar, World Rally and Moto GP teams. Today they are successfully partnered with a number of BSB, World Endurance, Moto America and Isle of Man TT Teams. For further information, contact Nick Hill on +44 (0)1249 446438

Easter Offer - get your name on the world-record challenging Electric Motorcycle

To celebrate the arrival* of a huge pallet of Ultra-capacitors we have an Easter Offer on Power Club membership.

One pallet... 250kg...  1,000hp

The rough shape the pack will be in the bike (once they're unpacked!)
The 12" ruler laid on the boxes gives you some idea of scale

If you're quick you can get YOUR NAME on one of these before we build up the pack and fit it in the bike... and to help you do that we've got an amazing Easter Offer.

Get your name deep in the heart of our 1,000hp record-breaking machine. Take a look at the Power Club page and sign up TODAY. It makes a great gift too. Tell your friends!

* Huge thanks to our long-term supporters at APC and Ioxus 


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If you'd like to join us on this extraordinary journey and share the publicity get in touch with Phil on 01825 761890

Inspiring the next generation of scientists and engineers at www.FastCharge.org