Randall & Payne - IN FOCUS ISSUE 20 (digital)

TAX

R&D – what a difference a claimmakes

Five clients show how claiming R&D Tax Relief has hugely benefitted their businesses; from enabling key additional resource which has facilitated growth, to employing crucial marketing campaigns for a start-up.

Just A Splash Ltd – Pia Varma (Food)

of major contracts , as well as re- investing in new product development to maintain their competitive edge . Ordinarily, without such a claim, the losses would be carried forward until the business is profitable which in any new company, may or may not be achievable without the investment in an established marketing campaign.

Gina Gardner Corporate Tax Accountant

As a young company developing blended culinary alcohol products (creating a new category in the food industry), the conversion of losses to cash in this case enabled them to begin investing in a strong marketing strategy to push their products to market , be successful in winning a number

The scheme, which encourages scientific or technological innovation, allows companies carrying out qualifying R&D activities to claim an additional Corporation Tax deduction for certain expenditure used to create or adapt innovative products or solutions. The monetary value of the benefit achieved is recorded, but the tangible outcome for our clients receiving such an advantage is rarely explored. Benefits have been received in the form of a cash repayment or from a reduced tax liability which has freed up funds to be invested back into keys areas of their company. We asked five of our clients what they have been able to achieve as a result of us completing successful R&D claims on their behalf.

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– Spring/Summer 2020

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