You’d be surprised by what qualifies for R&D tax credits these days…
Keen to join the tens of thousands of companies who’ve already benefited from the Government’s R&D tax credits scheme, but don’t think you’re eligible?
You’d be surprised by what qualifies for R&D tax credits these days. Sure, the usual suspects like ‘Manufacturing’, ‘Professional, Scientific & Technical’, and Information & Communication’ companies all generate their fair share of claims, but did you also know that butchers, bakers (and probably even candlestick-makers) can qualify too, along with organisations involved in food development?
Take Nucleus, the development kitchen behind Michelin-starred Restaurant Sat Bains in Nottingham.
Advised to get in touch with Jumpstart by his accountant, Chef Patron Sat Bains was delighted to discover all the hard work that had gone into creating an aerated chocolate dish would pay off in more ways than one – notably a sizeable cheque from HMRC to accompany the melt-in-the-mouth pudding. Finding exactly the right chocolate, fat content and stability “took ages”, admits Sat, “almost nine or ten months”. But perfect it they finally did!
Guided by R&D tax credits specialist Jumpstart, submitting the claim proved to be a whole lot easier: “What was great for me was that we were talking to people who were experts in our industry as well, so we’re talking the same language,” says Sat. “What you have to remember is that I’m a chef, not an accountant, so it’s great that I can concentrate on flavour, guest satisfaction and pushing the boundaries, knowing that Jumpstart has got our back, looking after tax credits. It’s the perfect combination.”
With literally thousands of successful claims under its belt, the team at Jumpstart has so far helped clients to recover £73m in R&D tax relief and identified over £370m in R&D expenditure for all kinds of companies – from bakers and bagpipe makers to software developers and textile manufacturers. Clearly, like Nucleus, we’ve got the recipe for success!
Watch Restaurant Sat Bains’ story