Local technology businesses embrace ‘Ingenious Britain’
On Friday 23rd July, Midlands-based business and tax advice firm Rabjohns LLP explored ‘Ingenious Britain’ alongside tenants at Malvern Hills Science Park and members from Herefordshire and Worcestershire Chamber of Commerce.
Attendees of the seminar discussed how the Government could support our local technology businesses and were advised by the Rabjohns Science and Technology Group, headed up by Dr. Zoe Jones and James Geary, what financial support was available to help grow and develop their businesses.
The seminar was opened by Dr. Zoe Jones, Associate Director at Rabjohns. Zoe is well qualified to speak on technology issues having gained a PhD in microbiology and working within the sector before qualifying as an accountant.
Zoe highlighted the recommendations from the recent report undertaken by Sir James Dyson which outlines a number of suggestions for the industry, including a refocusing of tax credits.
Tax Specialist, James Geary, then went on to consider the support which is offered by HMRC to technology businesses focusing particularly on research and development ( R & D) tax credits.
James explained, "Many businesses are missing out on extremely valuable research and development tax relief simply because they do not know it exists, or are unaware how to claim it."
"We have made many successful claims for our clients ranging from £5,000 to £500,000".
"We have also recently launched a no-win, no-fee service so that a fee is only payable to Rabjohns if a claim is accepted and there is a favourable result. If a claim is rejected then the business pays nothing!"
Nicky Griffiths, Director of Business Development at the Chamber said, “The event was extremely informative and simplified a complex area. Businesses may be put off applying for R & D tax relief simply because it sounds hi-tech, however, any business involved in manufacturing, engineering, or technology, could have eligible work.”
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