Save £000’s with R&D Tax Relief

Many UK businesses are missing out on Research and Development Tax Relief and throwing £000’s down the drain (aka paying it to those nice people at the HMRC). We spoke to Simon Bulteel from Cooden Tax Consulting to understand more about how this tax relief works…

Simon Butleel is Director of Research and Development Tax Relief at Cooden Tax Consulting. They specialise in helping businesses and professional advisors to ascertain if they, or their clients, are eligible for R&D tax relief and undertakes the claim process for them. He has had some impressive results.

“Recent claims vary from between £3k and £300k, so we have some very happy customers. They are naturally delighted to have kept that cash in their business! We have a 100% success rate after identifying a business’ eligibility,” says Simon.

Who can claim? – Your company must be incorporated and liable to pay Corporation Tax to be eligible for R&D Tax Relief (also known as R&D Tax Credit). Many creative, technology and manufacturing companies are eligible – and it seems obvious that they will fit the criteria. But this tax relief is available to companies in a wide range of sectors. Simon added: “We have helped firms in Brewing, Engineering, Insurance and other industries to claim this significant tax relief.” It’s worth investigating if your research and development activities will be appropriate for a claim. Simon also helps businesses with tax relief for patents and video games.

Who do you work with? – Simon explained that Cooden Tax Consulting works directly with business owners and Directors of innovative companies, as well as through professional advisors such as Accountants, Solicitors and Patent Attorneys. Professional advisory firms refer clients directly to Cooden Tax Consulting, or ask Simon to conduct a white label service for them for this specialist tax relief.

How do you achieve a 100% success rate? – Simon puts the success of client claims, along with the growth of his business that launched in 2013, down to expertise and personal service. He is an ACCA qualified accountant that was in practice for many years. This was followed by senior financial roles with a top 5 global clinical research organisation and a motorsport engineering company. He is focused on R&D tax relief and a real specialist in this still widely under claimed scheme that launched in 2000. The small team deliver tailored reports and enjoy working with the SME market. They often highlight grant and loan funding available for their client’s next R&D project, as well as facilitate introductions between companies where there is a mutual benefit.

Say hello at Accountex 2016 – Cooden Tax Consulting is exhibiting at Accountex at ExCel in London from 11-12 May. Visit them on stand A170 where you’ll see a British Record Holding Electric Bike. You could also meet the Director of Weald Technology who is now developing a more advanced bike, that he hopes will steal a World Record from the US! A great example of an engineering challenge project eligible for R&D tax relief! Simon is happy to have an informal chat to explore whether your business may be eligible for R&D Tax Relief. It costs nothing but could save you thousands. Seems worth exploring doesn’t it?

www.coodentaxconsulting.co.uk