Tax experts save clients nearly £1.2m
Business adviser Champion Accountants has helped SMEs across the North West claim almost £1.2m in research and development (R&D) tax relief during the last 12 months with an average claim size of £47,572.
Champion’s R&D tax specialists have helped innovative businesses from a wide spectrum of sectors reclaim the money invested in research and development activities, which to date stands at £18m and has a 100% success rate.
Aquaflow Services, MQI limited and CRATE Brewery are just a handful of businesses Champion helped last year.
Champion were able to identify a combined total of £965,944 in qualifying expenditure, which included costs for staffing and consumables. £250,000 was claimed back in total for all three businesses.
Businesses that spend money on analysing, designing and developing new products, processes or services or enhancing existing ones can claim for R&D relief.
The relief allows an SME incurring £100,000 in costs on qualifying R&D activities to save around £25,000 in corporation tax.
David Herd, R&D tax advisor at Champion Accountants, added: ‘’Clients often say it’s too good to be true and it will take a lot of time to make a claim, which isn’t correct. We’ve been helping businesses for a number of years and understand all the ins and outs behind R&D.
“2017 was a great year for R&D claims at Champion and we’re confident that 2018 will be even better.”
Champion Accountants has four offices across the North West in Manchester, Chester, Blackpool and Preston.
