The Business Exchange Swindon & Wiltshire Edition 61: June/July 2022 - Page 26

Tax credit know-how for innovation show-how

There are numerous ways to get cash back from the Government for the hard yards businesses do generating industry know-how through innovation . If you ’ re not familiar with them , you ’ re far from alone .
In this , the first in a series of interviews , Catax tax relief expert Brendan Keane demystifies R & D tax relief .
What are R & D Tax Credits ?
I wish I knew ! Just kidding . Put simply , R & D Tax Credits reward companies that innovate . The economy thrives on exports and exports thrive on R & D . So the Government created the scheme to incentivise businesses to develop new technologies faster than the rest of the world .
Who is eligible ?
Any UK-registered company spending money on developing new products , processes or services .
What kind of projects count as R & D ?
It varies between sectors but the crucial thing to bear in mind is that true R & D doesn ’ t just improve the level of knowledge within a company , it pushes know-how further for a whole industry . There has to be an element of technological uncertainty for the work to qualify but it doesn ’ t have to be completely new . You can take an existing product , improve it and it still counts .
What is the biggest claim you ’ ve managed to achieve for a client ?
We recently secured a claim for a telecommunications client worth £ 420,000 . That was a record for me and it just goes to show how much can be at stake . There will be companies
TECHNOLOGY IT SUPPORT PROVIDER PLACED AMONGST TOP 1% OF MICROSOFT PARTNERS WORLDWIDE Growth through innovation 5 and 6 July 2022 Business Cyber Centre, Chippenham A practical, fully funded workshop to support your business in creating, communicating and funding innovation • • • • • Ideation – innovation models Culture – leadership and team motivation Business planning Marketing and selling innovation Funding your innovation – which funding route and writing bids Available to all businesses in Swindon and Wiltshire, from early stage to established, this workshop is designed to inspire fresh thinking and reflection. Take two days to work on your business and define your growth plan. sign up at: innovation4growth.co.uk/workshops Innovation 4 Growth (I4G) is a business support programme delivered by UWE Bristol and funded by the European Regional Development Fund (ERDF). Innovation 4 Growth will receive up to £760,000 of funding from the European Regional Development Fund (ERDF), as part of the European Structural and Investment Funds (ESIF) Growth Programme 2014-2020. The Ministry of Housing, Communities and Local Government is the Managing Authority for ERDF. Established by the European Union, the ERDF helps local areas stimulate their economic development by investing in projects which will support innovation, businesses, job creation and local community regeneration. Following a rigorous certification process, Bradford on Avon based IT support provider, Systemagic, has been awarded Microsoft Gold Partner Status; an achievement that places them in the top 1 per cent of Microsoft Partners worldwide. To achieve the prestigious certification, Systemagic was audited and needed to meet strict criteria, including passing core competency assessments, taking part in a customer satisfaction (CSAT) index, supplying customer references verifying a high standard of service delivery and a licensing overview assessment. Stating on their website, Microsoft says: “A Microsoft Gold Partner is a partner committed to earning the highest level of company customer care and collaborative relationship with Microsoft. By achieving Microsoft Gold Partner Certification, partners prove they are committed to excellence in evolving Microsoft technologies and maximising the benefits that clients receive by expertly implementing Microsoft solutions.” Having now achieved Gold Partner status, Systemagic not only proves its expertise in Microsoft products and services including Teams, Microsoft Office, and SharePoint, but also has access to a range of benefits. This includes continuous technical training and support, advanced Microsoft tools and a UK-based Microsoft support team, ensuring a quick resolution to technical difficulties. ‘A Microsoft Gold Partner is a partner committed to earning the highest level of company customer care and collaborative relationship with Microsoft’ Speaking of the achievement, Managing Director of Systemagic, James Eades said, “I am thrilled that Systemagic has achieved Microsoft Gold Partner status. This is something the team has been working towards for a while and we’ve been a Silver Partner for over 10 years. As a Microsoft Gold Partner, we are excited to use our expertise to help our customers get the most out of their Microsoft products and use them efficiently in their businesses.” To add to this positive news, James has recently been presented with a personal award recognising his ambition and success. He was awarded Male Entrepreneur of the Year at the national Great British Business & Community Awards 2022. James said, “I am delighted to have been nominated and awarded Male Entrepreneur of the Year at The Great British Business & Community Awards 2022. Having started my first business at 17 and taking over as MD of Systemagic in 2010, the journey to where we are today has been an interesting one, full of many challenges, surprises and celebrations. Of course, Systemagic’s success could not have been possible without the support and hard work from our dedicated team.” Opened a Spam Email? We're Here. With Systemagic, benefit from: Award-winning IT support Industry-leading response times A judgement and jargon-free service Monthly-rolling contracts 01225 426800 enquiries@systemagic.co.uk www.systemagic.co.uk THE BUSINESS EXCHANGE 2022 27