The North East offices of the accountancy firm Haines Watts have helped innovating businesses to secure £23.6m in Research and Development tax relief, in the financial year 2019/2020.
The team based in the Newcastle and Darlington offices of the firm submitted 355 claims over the last 12 months – a 10% increase on the year previous.
Jonathan Scott, Tax Partner said: “With the average SME claim coming in at £50,000, R&D tax credits can present an invaluable opportunity for businesses to ease their cash flow – especially in these uncertain times.”
“It’s great that awareness of the relief is on the rise and to be able to support our clients with their claims.”
To meet the growing demand, the firm has invested in their Incentives and Reliefs team, with two new appointments during the lockdown period.
Gillian Mitchell joined the team as Tax Incentives and Reliefs Manager. Speaking on her new role she said: “I’m delighted to join the HW Newcastle team – although working remotely, the team have been brilliant with communication and have made me feel really welcome. I am impressed at how enthusiastic they are for the work they do and am looking forward to seeing them more often after lockdown.”
Sam Moore also joined the team as Assistant Manager, he said: “I thought it would be strange joining Haines Watts in the current climate but the team have been extremely welcoming and been great at getting me started. In the short term I am looking forward to helping clients through the current difficult situation and then just excited to see how my career will develop at Haines Watts!”
Haines Watts is a leading advisor to owner-managed business in the UK. The top 15 firm provides ambitious business owners the tax, compliance, corporate finance, and strategic business advisory services they need to achieve their goals.
More information on Haines Watts can be found on their website: https://www.hwca.com/