An Introduction to Fiscale
Research & Development Tax Credits – How much could your claim be worth?
R & D Tax Credits are among the most widely misunderstood of the Government’s incentives to reward innovation.
While major PLC’s and larger companies have tax specialists in house to claim any reliefs, many SMEs don’t believe that their activities qualify or understand what types of expenditure that are allowable.
R & D is not just about the high-tech sector. Manufacturing, engineering, IT, indeed many types of industries, may have invested time and money in some technological or process improvement. It is not about the value of the project, but what it has cost in real terms.
Fiscale specialise in claiming R&D reliefs for their clients, the important thing is to identify the smaller companies in particular that have valid claims, once a claim has been identified the process is really quick, typically 12 weeks from speaking to Fiscale to seeing the money in your bank, and it is tax free.
Fiscale in last year alone helped to achieve £1.7 million of tax benefits for their clients. Taking out the largest claims, the typical claim averages around £45,000, and one of the smaller clients, a software developer with a turnover of approximately a quarter of a £million, got back £40,000.
Most of the 12 weeks is taken up in preparation, understanding how the client operates, and what they need. Fiscale will put a detailed report together, typically upwards of 20-pages, containing all the key data in support of the claim. Their skills lie in getting the figures right in the first place and presenting the case in a way the Revenue can understand. To date because of the detailed process and due diligence that Fiscale undertake, they have 100% success record – HMRC have never rejected a claim.
The Inland Revenue allow 4 weeks to turn claims round, but in practice it is normally faster.
Once clients realise the cash that is waiting to be claimed, they often ask “Why didn’t my accountant tell me about this?” - Most accountants, however capable, are probably not a specialist in this area, and it is unreasonable to expect them to have a breadth of expertise in every area.
Fiscale are specialists, R & D Tax Credits is what they do, and their expertise is becoming so broadly recognised within the sector that at least 50% of their cases come to them from professional referrers. Once Fiscale is on board you can relax knowing that your claim is in the hands of the professionals.
Fiscale are so confident of bringing your claim to a successful conclusion that they provide their services on a “No Win No Fee” basis.
To see whether you have a claim, just make a quick call to one of the friendly team, you have nothing to lose and you could be agreeably surprised just give Jacqui Stoneman at Fiscale a call to get the ball rolling.
