Tax specialist celebrates huge R&D reclaims

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Wolverhampton based tax specialists R&D Tax and Grants Ltd is celebrating helping manufacturing companies claim back £4.6 million from HMRC for money spent on research and development.

Mark Evans set up R&D Tax and Grants Ltd in 2009 to assist companies who invest in research and development (R and D) by helping them claim back extra tax relief on every pound they spend in developing new products or introducing new and improved processes. To date, the company has claimed back £4.6m from HMRC, with over £2m in the last tax year alone.

“We operate on a no win, no fee basis so we absorb the risk for the client”, says Mark, managing director. “We have an excellent track record with HMRC, and meet with them on a regular basis. We write extensive reports on behalf of our clients, to demonstrate clearly to HMRC why our clients are claiming the refund.

“R and D is a hot topic and the scheme is getting more popular. It is essential for companies involved in manufacture to reclaim this relief, but many of them don’t realise that what they do is actually R and D, or they are too modest in their outlook. R and D is about problem solving, trial and error and risk taking - it’s what Britain continues to excel in.”  
The company works with SMEs to help them receive tax refunds quickly, as well as claim similar annual reductions on their corporation tax bills in the future.

Paul Heath is managing director of Zincast Foundry Ltd in Willenhall. “We were already aware of the R and D scheme as we’d seen how R&D Tax and Grants had assisted other manufacturing companies in the press”, said Paul. “They helped us pull the evidence together to support our claim, and once the paperwork evidence was submitted R&D Tax and Grants offered us a swift reclaim process. We were delighted to receive the £37,000 reclaim as it’s helped our cashflow, and we’ll definitely continue to reclaim on R and D from now on.”

R&D Tax and Grants Ltd have also helped an Oldbury steel processers to claim back R and D money from HMRC.
Malthouse Engineering, part of the Malthouse Industrial Holdings Group based in Oldbury, has reclaimed over £170,000 back in tax relief on research and development. The company cuts steel plate to supply diverse sectors including agricultural, automotive, nuclear power, construction and medical.

Roy Taylor is managing director of Malthouse Engineering. “Malthouse carries out a vast amount of R and D, but we found it difficult to categorise as it touches so many areas”, says Roy. “We reclaimed over £170,000 back over two years, so we’re delighted. The reclaim helped our cashflow dramatically and kept our bank happy throughout what has been a difficult time for many manufacturing companies. R&D Tax and Grants offered us a streamlined process that went through very quickly and we’ll now roll this out across the Malthouse Industrial Holdings Group. We have improved our account processes to make the reclaim even more straightforward next time. Our turnover is now up to £13m for 2010– it’s a very exciting time for us.”
“Malthouse Engineering are clearly dedicated to R and D”, said Mark Evans. “We were successful in getting the tax refunds back from HMRC in just a couple of months.”