Jacqui Stoneman's Testimonial
David Allen, MD of Camtech PCB Design Services
The time frame between David making contact with Fiscale and receiving a positive response to the claim from HMRC took less than six weeks. David received a phone call from Fiscale to advise that the claim had been successful around 2-3 weeks after the final report was submitted, the cheque arrived a couple of days later. David was delighted with the outcome and the extra funds into his business!
"The R&D Tax Credit scheme for small and medium sized businesses has been around for a long time. I remember looking into it a number of years ago and reaching the conclusion that the projects we undertook for clients didn't qualify as Camtech didn't retain the rights to the intellectual property for the PCBs we designed.
I am so pleased that I decided to investigate our eligibility for R&D Tax Credits again but this time using the expertise of specialist R & D Tax Credit advisors.
My phone call to Fiscale certainly paid off. They advised that at the end of 2009 there had been a change to the criteria that HMRC used to determine whether a company qualified for Tax Credit. It was no longer necessary to own the intellectual property arising from a project.
Fiscale unravelled the complexity of R&D Tax Credits and made the whole process very simple and straightforward. It did take some of my time to go through the projects that we have worked on over the past few years however from the clear direction from Fiscale I knew exactly what I was looking for. Needless to say the cheque we received from the HMRC generated a very favourable return on investment for my time! I was surprised at how quickly it all went through. We are looking forward to continuing to work with Fiscale and maximising the benefits available from the R&D Tax Credit scheme. We know that working with them is going to save us a lot of money."
David Allen, MD of Camtech PCB Design Services
The conclusion
The relationship between Fiscale and Camtech will continue with Fiscale guiding the company through the complexities of the R&D Tax Credit system. Future projects will be closely monitored to ensure that the investment in R&D is documented and that Camtech benefit fully from the R&D Tax Credit scheme.
The income received from the Tax Credit has been earmarked for investment into a 'next generation' Electronics Design Automation (EDA) package that will help position Camtech at the cutting edge of their market. The team from Camtech are currently evaluating the software to establish if it aligns with their operation and whether it will deliver the promised business benefits. It seems appropriate that funding from an R&D Tax Credit will potentially be used to finance further innovation, allowing Camtech to stay ahead in their highly competitive and fast moving industry.