R&D Tax and Grants has helped Tamworth-based precision engineering company, Brown and Holmes to successfully reclaim research and development tax from HMRC.

R&D Tax and Grants was set up in April 2009 to assist companies investing in R&D by helping them claim back extra tax relief on every pound the business spends in developing new products or introducing new and improved processes. The company works with SMEs like Brown and Holmes – manufacturing companies with up to 500 employees and a turnover of less than €100 million – to help them receive tax refunds quickly, as well as similar annual reductions on corporation tax bills in the future.

Mr Ward commented: “I’d heard about R&D Tax and Grants but wasn’t sure that we would qualify due to the fact that I was unclear of where the R&D boundaries start and finish with our company. However after consulting with the company we subsequently discovered that around 35-45% of our work is in R&D so that was a real eye opener.

“Thanks to R&D Tax and Grants we were able to claim back a substantial amount on tax paid from HMRC. The refund took only six weeks to receive after our claim was agreed and the company worked alongside our accountants in producing the supporting evidence, providing excellent support all the way. In future, the R&D reclaim will be an integral part of our annual accounting processes and the next claim will be much more straightforward.”

He added: “I believe that it’s crucial that the coalition government continue to support the scheme and the financial clawback has enabled us to put more research into more projects. Much of the work we have to complete to get to quotation stage is unpaid, and the tax we have reclaimed has helped us to support that process.”

“Brown and Holmes is typical example of a company who carry out R&D and don’t realise it,” concluded Mark Evans, managing director of R&D Tax and Grants. “There are fantastic engineering companies in this region who are not getting the help they deserve, but since we started the company, we have helped UK based manufacturers claim back £1.7 million from HMRC.”

R&D Tax and Grants
www.taxandgrants.co.uk

Brown and Holmes
www.brownandholmes.co.uk