Innovative approach pays off for Murphy & Son

By Jerome Smail contact

- Last updated on GMT

Murphy & Son saves £100,000 through brewery innovation

Related tags: Drinks, Finance

Brewing supplies and consultancy firm Murphy & Son claims to have saved nearly £100,000 over the past three years through its approach to product development.

The Nottingham-based company’s focus on innovation has led to research into the testing levels of sensitive proteins and tannic acid when creating a more sustainable cloudy consistency for beverages. It has also delivered advances in the production of vegan beer.

In 2018 the firm launched its remodelled layer board, designed to enable brewers to transport stock sustainably.

According to Murphy & Son, research and development (R&D) tax relief, which accountancy firm UHY Hacker Young Nottingham secured for the company, was ‘a key part’ in the success of these projects and continued innovation.

SME incentive

R&D tax credits were introduced by the Government in 2000. They are designed to incentivise small and medium-size enterprises to invest in research and product development by allowing them to claim an enhanced tax deduction for qualifying expenditure incurred.

According to UHY Hacker Young, Murphy & Son’s projects have benefited from additional tax relief on 130% of all costs attributed to its R&D efforts. That has included lab equipment and consumables, product trials and testing, and staff costs.

The accountants also secured funds for an element of the business’s utility bills, including water, fuel and power costs.

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.”

Essential funds

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’s 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.”

Related topics: Drinks, Operations, Technical

Related news

Show more

comments

Post your comment

We will not publish your email address on the website

These comments have not been moderated. You are encouraged to participate with comments that are relevant to our news stories. You should not post comments that are abusive, threatening, defamatory, misleading or invasive of privacy. For the full terms and conditions for commenting see clause 7 of our Terms and Conditions ‘Participating in Online Communities’. These terms may be updated from time to time, so please read them before posting a comment. Any comment that violates these terms may be removed in its entirety as we do not edit comments. If you wish to complain about a comment please use the "REPORT ABUSE" button or contact the editors.

Follow us

Products

View more

Webinars