Tax relief firm has moved to new head office
Specialist tax firm Catax, has opened a new office in Manchester after a year of rapid growth that saw staff numbers increase by two thirds.
The Manchester firm outgrew its previous base in just 10 months after its team increased from 54 to 90 in 12 months due to its expanding client base and the acquisition of R&D tax credit consultancy Fast Track.
With a portfolio of 14,000 clients nationwide, Catax’s turnover rose by nearly 20% from £7.4m in 2016/17 to £8.7m in 2017/18.
The new office named Catax House in Altrincham was officially unveiled by Sir Graham Brady, MP for the town.
The new larger headquarters will support the firm’s plan to treble in size by 2021 and the move comes just one month after Catax launched a new Scottish HQ in Glasgow to target firms that it said were “chronically underserved” in realising the value of their innovations.
Catax, which helps businesses with the complex process of claiming tax relief on Research and Development, Capital Allowances and Patent Box relief on intellectual property, now has five offices across the UK in Manchester, London, Glasgow, Edinburgh and the Channel Islands.
Research shows that while 78% of companies across the UK could be eligible for R&D tax relief, only 45% have ever claimed it.
The average tax relief claim is worth £49,000 for firms in all sectors nationwide.
Catax chief executive Mark Tighe commented: “We are delighted to be moving into this new larger premises which will support our future growth plans.
“It has been an exciting 12 months, with multiple new office openings, acquisitions and client wins all fuelling our dramatic growth.
“We have ambitious plans to continue this expansion over the next three years to extend our tax relief expertise to many more businesses across the UK that are currently missing out on millions of pounds.
“If we can advise more companies to claim the rewards they are due for their hard work and innovation, whether through R&D tax relief or the Patent Box relief, it will simply enable those same businesses to reinvest this money into further innovation and growth, benefitting the whole economy.”