Champion secures £3.45m R&D tax relief

Champion Accountants has helped small to medium-sized businesses across the North West claim more than £3.45m in R&D relief over the last six months.

The company, which develops tailor-made web software and technology, claimed the relief after identifying more than £58,000 of qualifying expenditure in the 2012/13 and 2013/14 tax years.

“Any clients that use our bespoke software can also claim R&D relief, helping to cut their own costs and enhance our position when pitching for future business.

As part of the government’s drive to boost innovation, businesses that invest in the research and development of new products and processes will receive a 225 per cent tax deduction on qualifying R&D expenditure, including staff wages, materials, overheads, software and utility bills, as well as the ability to claim cash back from HMRC.

Danny Evans, head of R&D at Champion Accountants, added: “With awareness of R&D on the rise, it is still massively under claimed. Businesses have a huge misconception that you must wear a lab coat and develop pharmaceuticals to qualify, when in fact; it benefits any company that makes advancements in science or technology. “Businesses like Bespoke develop custom-built technology and rely on R&D to encourage innovation. Re-investing the money claimed will provide a huge boost to the region’s economy, where creative and manufacturing excellence continues to dominate.”