randd Brochure

R&D TAX CREDITS EXPLAINED

In order to encourage Research and Development, the UK Government introduced R&D Tax Credits in 2000.

Both SMEs and large companies can claim R&D Tax Credits, including both profitable and loss-making businesses.

Almost 90,000 R&D tax credit claims were made by UK companies in the 2021 tax year, an increase of 7% from the previous year

Collectively they claimed £6.6bn in tax relief

Successful claims are paid either as relief against Corporation Tax, or as cash credit

Claims can be backdated by two years

R&D tax credits are calculated based on the overhead costs associated with expenditure on research and development projects as the UK Government aims to reward innovation for SMEs and large companies. In most circumstances, SMEs can submit their R&D tax relief to claim payable tax credits in cash from HMRC.

REDUCE YOUR HMRC LIABILITY

• A government incentive aimed at advancing science and technology within UK companies

• Launched in the year 2000

• Rewards innovation, risk taking, and research and development

• You can backdate your claim by up to two financial years

WHAT COSTS CAN YOU CLAIM FOR?

• Staff wages and other related costs

• Payments made to sub-contractors and external workers

• The cost of materials consumed

• Software licensing costs

• Payments to clinical volunteers

• Light, heat, and power costs

OVERCOMING TECHNICAL CHALLENGES

CREATING AND TESTING PROTOTYPES

WHO IS ELIGIBLE?

• UK limited company that is still trading

STREAMLINING BUSINESS PROCESSES

TRIALLING NEW OR SUBSTITUTING MATERIALS

• Companies of all sizes are eligible

• Profitable and loss-making businesses can make a claim

• Eligible R&D spend within the qualifying period

DEVELOPING BESPOKE SOFTWARE

TRIAL AND ERROR

• All sectors can qualify

YOUR SECTOR WILL QUALIFY

UK businesses in any sector can claim R&D tax credits, providing that qualifying research and development activities are being carried out.

The United Kingdom is home to some of the world’s leaders within their respective fields due to the constant technological advancements they make, with our clients spread far and wide across the UK in all industry sectors.

Many potential clients are often surprised as to what activities can qualify for R&D tax credits, but our experience ensures we are best placed to identify every eligible activity to ensure your claim is maximised to its fullest.

Below is just a small selection of some of the industries we have worked with:

AVIATION & MARINE

CHEMICALS & SEALANTS

COSMETICS & PERSONAL CARE CONSTRUCTION & PROPERTY

ENERGY

MARKETING & MEDIA

FARMING & AGRICULTURE

FOOD & DRINK MANUFACTURING & ENGINEERING

MEDICAL & PHARMACEUTICAL

PRINTING & PACKAGING

PROFESSIONAL, SCIENTIFIC & TECHNICAL

RETAIL & WHOLESALE

SECURITY & ELECTRICAL

SOFTWARE, I.T. & CREATIVE INDUSTRIES

TEXTILES & FABRICS

ABOUT RANDD

Established for 15 years, we have helped thousands of UK businesses successfully claim back millions of pounds using the R&D Tax Credits incentive through our simplified and efficient claims process. Our record speaks for itself, and to this day we maintain a 100% success rate and an average claim sum of £50,000.

Based out of our head office in Derbyshire with more than 20 UK offices in total, our team of Chartered Accountants and technical experts have successfully submitted over 4,150 claims for our clients, claiming back over £203m on their behalf.

Whether it’s a client’s first claim, or if they have benefited from R&D Tax Credits in the past, we take the time to understand each of our client’s businesses, and our strong relationship with HMRC allows us to deal with each claim entirely on our client’s behalf whilst optimising claim value.

We are randd, and we want to help reward your innovation.

20 UK Offices

4,150+ Claims submitted (and counting) 100% Claim success rate £50,000 Average claim amount £203m+

Claimed back for our clients

What truly differentiates randd are our highly experienced consultants who have an unrivalled breadth and depth of senior level experience covering wide ranging industry sectors. This gives them expertise to identify what claimants themselves may not recognise as eligible, and in many cases, what other Research and Development Tax Credits specialist consultancies or accountants won’t see or even be looking for.

At randd, our experienced team have filed over 4,150 cases since inception with a 100% success rate. R&D Tax Credits are a fantastic UK Government incentive, and we are thrilled to help reward our clients with funds that help their businesses grow and push innovation.

We use our efficient service to maximise the claim size and get the best returns possible for our clients. Our specialist team are there every step of the process and work with HRMC so our clients can use their time to focus on their business, not the claim.

WHY CHOOSE RANDD? AN EFFICIENT SIX STEP PROCESS

02 01 03

TECHNICAL R&D ANALYSIS APPLICATION COMPLETION 05 04 06 CLAIM SUBMISSION ONGOING DIALOGUE WITH HMRC

DETERMINE ELIGIBILITY

ARE YOU MAXIMISING YOUR R&D TAX RELIEF CLAIM?

WHY USE A SPECIALIST?

R&D Tax Credits are a niche form of UK tax relief, and very few accountancy practices have the time or resources to dedicate a specialist team into handling their clients’ R&D claims.

Investigating and compiling your technical narrative, and building a case that will guarantee a client receives the maximum amount they are eligible for requires countless hours of research to ensure that no stone is left unturned and your claim is submitted with complete accuracy.

Such a service calls for experience that is unmatched amongst typical accountancy firms and other specialists, and is the product of the thousands of claims that randd has submitted on behalf of its clients.

SPECIALIST SECTOR KNOWLEDGE

Our experienced team have unrivalled breadth of knowledge across all major industry sectors. Our experts have worked across multiple industries and take the time to gain a thorough understanding of your business and what your R&D has achieved. Making a claim really isn’t just a numbers exercise, and our 100% success rate is because we know in detail how the scheme works and understand the technical aspect of your research and development.

SPECIFIC R&D EXPERTISE

A carefully constructed technical narrative is the first step in making a successful claim, and ensuring this is as accurate and precise as possible will play a key role in determining whether you receive the maximum claim amount available.

We have filed over 4,150 claims, each with their own unique and detailed report which have served as the foundation to each successful case.

A WORKING RELATIONSHIP WITH HMRC

Through working with HMRC for over twelve years and filing 4,150+ claims, we know exactly how HMRC interpret what is eligible for tax credits and the precise way in which all submissions must be presented to avoid delay and tax inquiries to ensure our clients receive their maximum award.

Our 100% success rate is testament to our confidence that we know exactly how the scheme works, what activities can qualify for the scheme, and how sure we are that you have a legitimate case on your hands - which is why you can have confidence knowing that we will not accept any fees until you receive your successful claim.

100% SUCCESSFUL CLAIM RECORD

It is true that if the R&D expenditure has not been made, then it cannot be claimed back, but the challenging aspect is ensuring that every penny of eligible spend is included as part of your claim.

Our proven track record has demonstrated that we can help our clients claim back up to 9 times more compared to their accountants, self-submission, or an alternative R&D agent. The diligence and understanding of the scheme ensures we unearth everything that can be claimed for.

The graph below demonstrates recent examples of how our approach has helped clients to identify missed opportunities. In each example, randd revisited a claim already submitted and successfully identified where qualifying R&D hadn’t been claimed. HMRC allowed us to resubmit the claim and gain additional credits for our client.

CLIENT STORIES

Through our unique six-step process, tailored specifically to each client, our team of tax credit specialists have been able to compile an impressive collection of success stories over our history.

We work tirelessly to make sure every claim is refined and tailored to guarantee results, and that level of care and commitment can be seen across the following selection of case studies. Our team boast the perfect combination of skill, experience and industry knowledge to help retrieve the highest possible payout from HMRC, so if you qualify for our process, get in touch today.

Every client has a unique story to tell; whist every business shown across the following pages commonly carry out research and development activities that qualify under the R&D Tax Credits scheme, every business is unique in its innovation process.

We have helped many different companies from various industries, and you could be next.

SECTOR – TEXTILES CLAIM VALUE - £274,000

A Carlisle-based tweed weaver has claimed £274,000 in R&D tax credits over six years with the latest addition of over £66,000.

This well-established company designs and manufactures innovative fabrics for the women’s fashion industry. Trialling combinations of multiple yarns with hugely differing characteristics such as manufacturing process, dyeing or washing shows innovation of the highest order.

An experienced workforce with unique skill-sets undertake trial and error and problem solving with the aim of reducing costs, enhancing quality and improving sustainability.

OVER £274,000 CLAIMED IN R&D RELIEF

Previous R&D Tax Credits have enabled the company to become ever more innovative and more likely to invest in newer capital equipment to help them maintain their position as world leaders in specialist fabrics.

SECTOR – CONSTRUCTION CLAIM VALUE - £205,000

The latest claim of £68,000 makes a fantastic total of £205,000 in R&D tax credits over three years for an external building restoration company.

A dedicated team offer a full design and consultation service for architects, surveyors and project managers.

£205,000 IN TAX RELIEF AWARDED OVER THREE YEARS

The company have their own research and development facility which includes a state-of-the-art in-house furnace. This is a calc controlled atmosphere brazing furnace used to braze aluminium.

Research and development is vital for conserving traditional aesthetics whilst complying with the latest building standards and regulations. The company’s proactive R&D programme integrates new materials and manufacturing technologies whilst maintaining traditional and aesthetically pleasing architectural features. Their R&D projects involved creating bespoke solutions through intense testing and problem solving.

SECTOR – FOOD AND DRINK CLAIM VALUE - £168,000

A Hampshire-based specialist fruit grower received a first claim of £168,000 through the services of randd. The business grows, packs and distributes all fruits to supermarkets across the country.

They carry out research and development methods for growing fruit under protection from the weather, which also results in better working conditions for staff.

Research and development, such as trial areas for growing the fruits, is vital for responding to customer requirements including the supply of a variety of fruits throughout the year. The fruit growers also established a conservation plan in partnership with the Royal Society for the Protection of Birds to enhance natural biodiversity and monitor the local wildlife.

SPECIALIST FRUIT GROWER AWARDED £168,000

The business owener commented: “We are a resilient and adaptable industry - we know there are huge opportunities available to our sector so we can sell more great British food and drink. Therefore, it is key that we identify how best to harness our own growth potential and improve productivity.”

CLIENT STORIES

SECTOR – IT COMMUNICATIONS CLAIM VALUE - £129,000

An eCommerce site for luxury interiors have received a total of £129,000 in R&D tax credits with the latest claim for £63,000 secured by randd.

This London-based company provides high quality interior furnishings, sourcing products from world leading brands and unique artisans. The online platform incorporates technology that tailors products for shoppers based on their previous purchases and browsing history.

A team of experienced software developers and engineers are employed in-house to enhance the online shopping experience for customers in the future.

RANDD SECURES A TOTAL CLAIM OF £129,000

Striving to make claiming R&D tax credits as quick and easy as possible, randd have a simple process to help business owners. randd aim to make the process as straightforward as possible, so that from the first meeting a consultant can recognise if you are eligible to qualify for R&D tax credits.

SECTOR – MANUFACTURING CLAIM VALUE - £427,000

In total, this manufacturing company from Chesterfield has claimed £427,000 in R&D tax credits following their latest award of £106,000. The company manufacture specialist and unique fabrications for complete turnkey solutions including design, manufacture and commissioning.

Their fully equipped workshop and new manufacturing unit enables the company to carry out research and development to deliver on their commitments to their clients.

LATEST CLAIM OF £106,000 BRINGS TOTAL SUM TO £427,000

They act as a trusted partner to key customers, the company develop a proactive strategy consisting of technical advice, feasibility studies and support at early stages. This ensures that customer needs are realised in a cost effective, achievable and practical manner.

The company’s Managing Director commented on the process: “randd’s team have again helped us with another successful R&D claim. The professional, controlled and well communicated approach by randd is a really good fit for our business. I would strongly recommend randd as the company to handle your R&D Tax Credit claim.”

SECTOR – PHARMACEUTICAL CLAIM VALUE - £32,000

A Hucknall-based company have received a first-time claim of £32,000 in R&D Tax Credits with the help of randd. The company develop and manufacture high-quality reusable incontinence products for adults and children using British materials.

A highly skilled workforce produces extremely practical, cost effective and, in many cases, fashionable products. Research and development is vital to develop ways to produce garments cost effectively to ensure the comfort and performance elements developed within the prototype products, which are wholly developed by the company, are not compromised when upscaled into quality, market ready, high-performance products.

£32,000

IN R&D TAX CREDITS SECURED

This process required in-depth research to achieve solutions that have included trials, prototypes and problem solving; all activities which are eligible under the R&D Tax Credits scheme.

SECTOR – PRINTING AND PACKAGING CLAIM VALUE - £340,000

Over five years, this printing company have received £340,000 in R&D Tax Credits from HMRC, following their latest claim of £69,000 with help from randd.

The company designs, develops and manufactures bespoke point-of-sale displays that are created to enable clients to sell more products. Using various manufacturing techniques and materials the company is geared up to be able to fabricate even the most complex requirements in-house.

PRINTING

FIRM AWARDED £340,000 IN R&D TAX CREDITS

Rather than rely on subcontractors, the company takes innovative approaches in many diverse and interrelated areas and processes that achieve improved quality, functionality and performance for point of sale displays. These include developing and prototyping, laser cutting, vacuum forming, injection moulding and metalworking.

Research and development is becoming increasingly important in the printing and packaging sectors. As companies need to drive down costs, packaging and printing businesses are constantly striving to create cost efficient products and improve quality.

SUCCESS ACROSS MULTIPLE SECTORS

WHAT OUR CLIENTS SAY

With over 4,150 claims made and a 100% success rate, we pride ourselves on delivering a first class service to each and every one of our clients.

We are delighted to help our clients reap the rewards for their innovation, encouraging them to push to the forefront of their respective industries.

“I HAVE FOUND THE WHOLE PROCESS VERY SIMPLE AND EASY”

“I have found the whole process very simple and easy. You guys have done a great job in managing my expectations and providing all the help and assistance we needed to get this process done. You have also kept us fully up to date along the way, providing assistance when we needed it. You completed your work very professionally and made the process very simple.”

Paul Roberts - Group Financial Controller, Hildon Park Limited

“THE WHOLE PROCESS WAS MADE VERY EASY FROM THE START”

“I would thoroughly recommend the services of randd. We received a professional timely response to all our questions and the whole process was made very easy from the start.”

Kim Harper - Finance Manager, Brooks Crownhill Ltd

“THE GUIDANCE I WAS GIVEN PROVED IT TO BE AN EASY TASK WITH GREAT RESULTS”

“I must admit I found the thought of going through all my work to raise a claim a little daunting to start with but actually Phil and you guys made the process quite simple and easy to handle. The guidance I was given proved it to be an easy task with great results. Thanks again.”

Ryan Dawson - Director, Mission Patterns Limited

“RANDD’S WORK HAS ENABLED US TO LAUNCH SISTER COMPANIES WHICH ARE NOW THRIVING”

“We have been working with randd for quite a few years now. Their input is always helpful to ensure our record keeping is correct and in order to maximise our claims each and every time without hassle. Their work has enabled us to launch sister companies which are now thriving. Thanks!”

Chris Cox - Managing Director, Trifibre Ltd

“RAPID, PROFESSIONAL, AND DOES WHAT IT SAYS ON THE TIN”

“A few years ago, I was in urgent and desperate need of a tax and audit accountant. I was recommended to Business Tax in Chester. They not only met (and still meet) but exceeded my expectations considerably and early this year they referred me to randd. I have again been more than pleasantly surprised. Rapid, professional, and “does what it says on the tin”.

“I am not usually given (I don’t do it) to the recommendation of others, especially as I have a low expectations of the value for money provided by “professionals”. These two businesses working together have blown that assumption out of the water!”

Chris Kenyon - Managing Director, Aqord

“WE HAVE USED RANDD TO COMPLETE OUR R&D CLAIM FOR SEVERAL YEARS”

“I have recommended randd to several of my business associates and each one that has taken up their services has been equally impressed.”

Andy White- Managing Director, Sterling Machining

MEET OUR TECHNICAL EXPERTS

Our experienced team takes the time to maximise your claim and minimise the effort required from yourselves at every stage of the process. Making a claim really isn’t just a numbers exercise and our 100% success rate is because we know in detail how the scheme works, how HMRC interpret what’s eligible, and the precise way that HMRC expect submissions to be presented.

OUR DIRECTORS

BRENDAN MOLLOY NON-EXECUTIVE DIRECTOR

Brendan has been a member of the Chartered Institute of Management Accountants since 1980. He has worked within manufacturing companies for most of his professional career. For the last five years he has operated as an independent consultant for small businesses but has recently specialised in the recovery of tax, undertaking research & development. He has worked for numerous manufacturing companies in a top financial position covering a wide selection of different sectors from cars to coated metal tubes.

KEYSE NON-EXECUTIVE DIRECTOR

Michael has over 30 years’ experience working in manufacturing companies across a wide variety of sectors including Construction Materials, Rubber and Plastics, Electronics, and Food. Whilst operating at executive level in Operations, Logistics and Manufacturing management, he has had direct responsibility for Information Technology and in particular, business systems development. He has both project managed and overseen a number of Tier 1 ERP implementations working with both SAP and Oracle.

RYAN SIAN MANAGING DIRECTOR

Ryan joined randd in 2012 and has developed his expertise in R&D Tax Credits over nine years whilst working for the business. After graduating with a degree in Economics, Finance & Banking, Ryan has since gained his Chartership qualification. Ryan has direct involvement with all aspects of the business and plays a pivotal role in managing a rapidly growing, diverse portfolio of clients, acquiring specialist knowledge in both the SME & RDEC tax schemes. After assuming the position of Managing Director at randd, Ryan oversees all areas of the business, working closely with the rest of K3 Capital Group to propel the growth of the corporation and its sister brands.

MICHAEL

Matt has 25 years’ experience in tax (corporate and personal), accounts preparation and business advice, covering all aspects of issues faced by SME companies. He has specialised solely in R&D Tax Credits for the past 10 years. Previously, Matt worked in accountancy practices of all sizes, from large national firms to small practices, mainly based in the East Midlands. He gained his Chartered Certified qualification within an accountancy top 10 national firm; a solid training ground for his later Directorial roles.

Mathias has a strong engineering background having worked for over seven years in R&D roles as an Engineer, Work Package Leader and Project Manager. Mathias occupied these roles in France, India, Denmark and the UK whilst working in the oceanography, water treatment, energy and information technology sectors. Mathias then moved into the tax consultancy sector where his breadth of technical and managerial experience is used to support highly innovative R&D businesses in accessing the necessary funding via the R&D tax credits schemes in place in the UK, so that they have the financial capabilities to grow and develop products aiming to revolutionise the world of tomorrow.

Adam has been working as an R&D Tax Credits Specialist since 2009, helping SMEs in both manufacturing and software sectors identify research and development activities within their business, and converting highly technical information into reports that the layman can read. As a recipient of two academic scholarships from the Economic and Social Research Council and the Manchester School Journal, Adam graduated from the University of Manchester with a PhD in Economics, writing a thesis on European monetary union. Adam has been able to use his knowledge of the economy, statistical models and finance with his keen interest in technology, science and engineering, to transfer his skills to helping companies maximise their R&D Tax Credits.

MATT TIMBY FCCA FINANCE DIRECTOR

ADAM BOINTON PHD OPERATIONS DIRECTOR

MATHIAS CRESPY COMMERCIAL DIRECTOR

MEET OUR TECHNICAL EXPERTS

R&D TAX CONSULTANTS

Our R&D Tax Consultants collate your financial figures, calculating costs that can be claimed back from your research and development projects. Ultimately, they determine the figure for your Research and Development Tax Credits claim.

PROJECT MANAGEMENT

Ensuring that the process of a claim runs smoothly, talented team members work tirelessly in various roles to prepare your R&D tax credits application.

KERRY BOWLER NIGEL LANGRICK SIMRAN AIETAN LEWIS PRITCHARD LUCY CUMMINGS

KYLE SAWFORD

ANGELA DRAEGER ANDREA MCADAM VANESSA WEST MARIE EDWARDS CLARE STOKES

EMMA BOINTON

TRACY RICHMONDBAILEY

DANIEL MANN MAEMIE TOMLINSON

R&D CONSULTANTS - OUR SECTOR SPECIALISTS

Experienced R&D Consultants from randd have years of industry knowledge and understand your business. They will visit your workplace at the start of your claim to discuss your projects and discover research and development activities that are eligible for the claim. This information will be used to write the technical report to submit with the financial figures to HMRC.

MARKETING AND NEW BUSINESS

Our Marketing and New Business department is on hand to identify, inform and educate UK businesses about Research and Development Tax Credits. This government scheme is largely unknown and those that have heard about it are often sceptical.

PHIL TOOLEY PATRICK EATON PAUL GRABHAM STAN PAYNE ROY HUZZARD

TIM BARRY LEE MIDDLETON MARIANNE LINDSAY

PETER ALLEN

GARY EDWARDS GARETH SMYTH AMY OAKES DEBBIE COLLEY SHANNON JACKSON

PART OF K3 CAPITAL GROUP

WE ARE PART OF A GLOBAL ADVISORY GROUP

K3 Capital Group is a group of growing and complementary professional services businesses aimed at providing SMEs with high quality advice across specialist disciplines. As part of the wider Group, randd has developed contacts and has access to networks not previously possible as a private limited company.

Our group operates out of more than 20 UK and overseas offices, employing over 600 staff who provide a full range of advisory services including R&D tax reclaim, mergers and acquisitions, restructuring and insolvency, corporate finance, forensic accounting, pensions advisory and creditor services.

RESEARCH & DEVELOPMENT TAX RECLAIM

MERGERS & ACQUISITIONS

CORPORATE FINANCE RESTRUCTURING & INSOLVENCY

FORENSIC ACCOUNTING

PENSIONS ADVISORY

CREDITOR SERVICES

TAX SERVICES

EMPLOYEE OWNERSHIP TRUSTS

INITIAL PUBLIC OFFERINGS

ACQUISITION STRATEGIES

DEAL SOURCING

GET IN TOUCH

Our team of experts offer an unrivalled service through a hands-on approach, specialist tax and technical knowledge and a strong relationship with HMRC. This award-winning formula is used on a daily basis to identify R&D Tax Credits eligibility for UK businesses across a broad range of industry sectors.

In summary, randd:

Have a 100% success rate for every rebate claim processed

Have recovered in excess of £203 million from over 4,150 claims to HMRC

Claim back an average of £50,000 for our clients

Remember, by appointing randd you will benefit from the following:

We will help you to obtain a cash refund on overpaid corporation tax over the last 2 years

We help you to reduce your corporation tax now and in future years because of your ongoing R&D activities

We handle and process the full application and deal with HMRC directly for you

Ongoing specialist R&D advice on hand for all of our clients

Regardless if you’re new to tax credit claims or have made a claim in the past, one of our experts would love to hear from you and discuss your business, eligibility and how we have helped thousands of clients to claim back a significant amount of R&D spend.

You can contact us by email at info@randduk.com, or call us on 01332 409 715, and we’ll be happy to answer any queries you might have.