Smith Cooper announced that it has forged a new partnership with TBAT, an independent consultancy working with over 17 years of experience in research and development activities.
Following the partnership, both firms will launch a new research and development (R&D) online portal, which will allow owner-managed businesses to submit key data and reveal if they are eligible to submit a claim.
Smith Cooper said that the platform will “make the whole process quicker, easier and much more accessible”.
Once businesses complete the online form, they can proceed with their claim through either the Swift online portal or by using the new portal by Smith Cooper and TBAT.
TBAT said that they can provide technical R&D expertise in order to “submit a robust, successful and maximised R&D tax credit claim to HMRC”, and businesses will only incur a fee where their claim has been successful.
Matt Symonds, managing director of TBAT, said: “Quite often many companies don’t always know how to access R&D tax credits, or whether they’re even eligible to do so, which is where we can help.
“A successful R&D claim can bring about a number of benefits to any business – relieving cash-flow pressures, funding the launch of another product, or enabling the seamless continuity of research by channelling funds back into R&D to further advances in a specific field.”
David Nelson, senior partner at Smith Cooper, said: “TBAT have a fantastic reputation both locally and nationally, helping businesses access critical research and development funding across a range of UK and EU schemes and industry sectors, and the partnership will only enhance the existing service that we already offer our clients.
“By joining forces with TBAT we’re able to provide to fully utilise their extensive experience and leverage their technical skills to effectively support a wide range of client projects.”
Smith Cooper said that the partnership has come at a “critical time” for many businesses, who are suffering in light of the ongoing pandemic. Those who are eligible to submit a claim can now “inject some much-needed cash into the business”.
It warned that the average company claims in excess of £50,000 in R&D tax credits, and therefore businesses “cannot afford to miss out”. To date, TBAT have identified over £210m in eligible R&D spend and provided clients with £24m in tax benefit.