Comet WW Solutions

Main Menu

  • Home
  • Due Diligence
  • Business Plan
  • Entrepreneurs
  • Accountancy
  • Money

Comet WW Solutions

Header Banner

Comet WW Solutions

  • Home
  • Due Diligence
  • Business Plan
  • Entrepreneurs
  • Accountancy
  • Money
Accountancy
Home›Accountancy›Accounting group releases £ 1million in R&D tax relief for businesses affected by Covid

Accounting group releases £ 1million in R&D tax relief for businesses affected by Covid

By Becky Ricci
April 28, 2021
0
0



Kevin johns


An accounting group with offices in Solihull, Birmingham and Coventry has clawed back more than £ 1million in research and development tax credits for its clients since the start of the pandemic.

Prime Accountants Group secured £ 250,000 for a client and, in a second case, recovered £ 80,000 for a tech company, which kept it from going bankrupt.

R&D tax relief is available to companies looking to find or develop a lead in their field and can be claimed by a range of companies.

Kevin Johns, Managing Director of Prime, said: “A lot of people think research and development is about people in white coats in a lab – it’s really about looking at everything that makes your business more efficient.

“We have managed to save hundreds of thousands of pounds for customers over the past year. We saved £ 250,000 on one client and £ 80,000 on a second, which was on the verge of bankruptcy.

“We suggested making an R&D claim on their behalf and only charging for our work if we were successful. We were and it was the difference between keeping this company afloat and going bankrupt.

“It shows that there are still possibilities to claim money from the government. R&D is one of the most common tax breaks because there aren’t many ways to get HMRC from you. refund.

“My message would be to invest now, where you can. There will also be plenty of opportunities to buy businesses because, unfortunately, some will not survive the pandemic unscathed.”



Related posts:

  1. What is bookkeeping? Types of accounting
  2. ICAEW Regulatory Council outlines key areas of focus for 2021
  3. PayCo Deal for Workr – The Global Recruiter
  4. EY is the UK’s third most valuable brand – ahead of many giants
Tagsmanaging director

Categories

  • Accountancy
  • Business Plan
  • Due Diligence
  • Entrepreneurs
  • Money
  • Privacy Policy
  • Terms and Conditions