Lending Crowd: Rescued from an HMRC challenge
Lending Crowd made a claim themselves, but it didn't go well and opened their eyes to the value of ABGI UK.
Lending Crowd is a leading peer-to-peer innovative lending online platform matching small businesses seeking loans with investors looking for investment opportunities.
Lending Crowd had initially made a claim themselves through HMRC's Advance Assurance on the advice of their accountant, however, this didn't go well, mainly due to their lack of awareness of the scheme, and HMRC ended up challenging their submission.
A mutual acquaintance who has been a client of ABGI UK for many years suggested they give us a call.
“We contacted ABGI UK to help us address the various questions HMRC was asking about our claim. We did have reservations initially about the cost implications of hiring ABGI UK, the risk of ending up with nothing, and the threat of an HMRC enquiry.
ABGI UK proved they had the experience in dealing with HMRC's R&D tax relief scheme, coupled with an impressive technical knowledge to back it up. They gave us excellent advice and helped put into perspective risk vs. reward.
ABGI UK dealt with HMRC directly, which released us from the stress of the enquiry. They spoke HMRC's language, answered all their questions and dealt with all their challenges and made the process straightforward and painless for us.
Having been through an HMRC enquiry hasn't put us off making future claims. It has however opened our eyes to the difficulties of claiming and as a result we've pulled out of Advanced Assurance and have hired ABGI UK to submit our R&D tax relief claims.
ABGI UK helped rescue us from a bad situation, it was money well spent.”
Director of Operations, LendingCrowd