Research and Development Tax Specialists Access2Funding have successfully returned hundreds of thousands of pounds to SMEs across Scotland since coronavirus lockdown began.
Supporting businesses to boost their cashflow in this difficult economic time, Access2Funding is also expanding their business in the country. With a presence in Scotland since the start of 2020, Access2Funding has made such an impact they are set to double across the country in the coming months. The current team headed up by Suzy Carter is based in Edinburgh, with technical R&D claim writer Taylor Franchetti, and R&D specialist Lorraine Politi. Recruiting in this difficult economic time is a testament to the valuable support on offer, with more posts following in a new Glasgow office later in the year.
Suzy has extensive experience in the financial sector spanning over 25 years, working with mainstream funders and helping a premier customer base. Suzy now advises SMEs and delves into their business activities to uncover any hidden funds. Many business owners tell Suzy they have investigated R&D Tax Credits in the past, but don’t think they are eligible as they aren’t doing anything ‘ground-breaking’. Many also haven’t heard of the scheme at all, which could be why statistics show that R&D is still massively underclaimed, particularly among businesses in Scotland.
Edinburgh based software company Sibbald Digital Ltd, reinforce this point as they only recently learned about the government initiative: “We first became aware of Access2Funding via a friend’s social media post. Flash forward one short week and our claim was submitted and we were awaiting payment. Just think about that. Imagine not knowing a thing about Access2Funding or R&D Tax credits a week ago and then having a refund imminent? Add to that the current climate and it cannot be understated how grateful we are for this boost to cash flow”.
Research and Development tax relief takes place when a project seeks to achieve an advance in overall knowledge or capability. As long as the business is liable to pay corporation tax, whether they are loss making, or even if their project failed, they can still be eligible. Unlike the coronavirus government support loans, R&D tax credits have no interest, and are available right now. Suzy Carter explains why this is the perfect time to talk to a tax specialist:
“Many of our clients have furloughed staff, lost contracts and lessened productivity, meaning the effect on cashflow makes it difficult to plan for the future. R&D tax credits can be the lifeline to assist small and medium sized businesses in Scotland come back fighting, ready to grow.”
Amidst the Coronavirus pandemic and UK lockdown, Access2Funding have successfully returned £118,000 to a bespoke joinery firm, and more than £38,000 to Architects in Edinburgh. Sandy Anderson, Director of Block9 Architects explains: “Suzy and the team provided us with a fantastic service, they were outstanding and were on hand for all our questions throughout the claim. We received way more than expected, which was a huge help to the business during the pandemic’.
On average, businesses claim £34,000 per year with Access2Funding. Get in touch with Suzy Carter on 0333 990 0125, 07851 246 372 or visit www.access2funding.co.uk to make sure your company isn’t missing out on vital cashflow support.