Smith Cooper are thrilled to share that they have joined forces with TBAT, a leading niche independent consultancy working with over 17 years’ experience in working with organisations conducting research and development activities.
The collaboration will see a new R&D online portal launched, allowing ambitious owner-managed businesses to submit key data which will tell them whether they may be eligible to submit a R&D claim, making the whole process quicker, easier and much more accessible.
Matt Symonds, Managing Director of TBAT comments: “Quite often many companies don’t know always how to access R&D tax credits, or whether they’re even eligible to do so, which is where we can help. A successful R&D claim can bring about a number of benefits to any business – relieving cash-flow pressures, funding the launch of another product, or enabling the seamless continuity of research by channelling funds back into R&D to further advances in a specific field.”
Once the online form has been completed, businesses can proceed with their claim either through the Swift R&D online portal or by using the new joint approach by Smith Cooper and TBAT. The joint approach sees TBAT provide technical R&D expertise in order to submit a robust, successful and maximised R&D tax credit claim to HMRC. Businesses only incur a fee where their claim is successful.
The partnership comes at a critical time for many businesses who are suffering the drastic impact of the COVID-19 outbreak, who may be eligible to submit a claim and inject some much-needed cash into the business. With the average company claiming in excess of £50,000 in research and development tax credits, not many businesses can afford to miss out. To date, TBAT have identified over £210 million in eligible R&D spend and provided clients with £24 million in tax benefit, helping many remain at the forefront of innovation.
David Nelson, Senior Partner at Smith Cooper comments: “TBAT have a fantastic reputation both locally and nationally, helping businesses access critical research and development funding across a range of UK and EU schemes and industry sectors, and the partnership will only enhance the existing service that we already offer our clients.”
“Here at Smith Cooper we’re continually seeking new ways to help our clients prosper, particularly those conducting innovative development activities. By joining forces with TBAT we’re able to fully utilise their extensive experience and leverage their technical skills to effectively support a wide range of client projects.”
“Our thorough and pragmatic approach to business means we form strong and long-term relationships so that we not only understand your business but help drive it forward. We see ourselves as an extension to our client’s organisations, and like TBAT, we too are genuinely passionate about supporting our clients to help them succeed, fully utilising all the resources that are available in the marketplace.”
Matt Symonds added: “We’re delighted to be working alongside Smith Cooper. A full-service organisation, Smith Cooper saw an opportunity to grow their existing R&D division with our help, and we look forward to supporting their clients, helping to propel their organisations by accessing crucial resources.”
In the dynamic landscape of R&D tax relief schemes, a pivotal change has quietly disrupted the routine of many R&D claim providers—the introduction of the Additional Information Form (AIF).
The recent Autumn Statement officially announced the merger of the R&D tax relief schemes, scheduled to take effect from 1st April 2024, for accounting periods starting after this date.
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