Business Tax Saving Supports Growth In Lancashire’s Digital Economy
24 October 2019
Digital and tech companies in Lancashire have been able to reinvest into their business, supporting the local digital economy thanks to savings made by working alongside ABGI-UK, tax incentive and innovation management advisors.
Often digital companies have not realised just how much research and development work they have been doing and there can be pockets of R&D happening across their company that, together, can add up to quite a significant saving.
Leon Calverley, Managing Director of Door4 in Burnley is an example of a company that were able to buffer the change within the business thanks to the saving.
“We’ve submitted claims for the past two years and in that time have altered our core business activity, working with a different set of clients. This could have felt risky, but the saving meant we had capital available to support the change and act as a buffer. We’re in a position now where we are achieving growth by attracting clients that match our value proposition and recently appointed Keeley Davies and Olivia Breckell who will work on a range of retained accounts and website projects.”
Two other Lancashire businesses who have made savings thanks to the support of ABGI-UK said that working with ABGI’s team of expert Innovation Funding Consultants meant they felt confident submitting a claim and reduced the risk of HMRC questioning what they had claimed for. Aidan Watt, Technical Director of Hotfoot Design and co-founder of Regalo Gifts valued the support given from the technical team at ABGI-UK as they developed a new product within their business;
“Launching a new product is always risk for any business as it is necessary to invest time and resources into bringing it to market. When at Hotfoot Design we developed and launched our innovative gift voucher platform Regalo we worked closely with ABGI-UK to identity which aspects of our research and development qualified for R&D tax credits and this has supported our growth.”
Article originally published on Business Up North
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