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MIM MEMBERS BENEFIT TO THE TUNE OF £3.8M

Despite R&D Tax Claims helping 27 Made in the Midlands members recover £3.8m in Research & Development tax relief, Mark Evans says there is more work to be done.

“One of the major obstacles I face day to day is that companies believe the scheme is too good to be true,” said Mark, Managing Director of R&D Tax Claims.

“But claiming back R&D tax from HMRC is a government initiative that was introduced to actively encourage SMEs to claim back money – money that can be reinvested to support and grow those businesses.”

Made in the Midlands has 260 members, and to date, Mark has helped 27 of them recoup an average of £141,000 each.

“I have a 100 per cent success rate,” added Mark, “which is a pretty good track record; I’ve earned  an excellent reputation with the Revenue and my customers seem pretty happy too

“But there are still MIM members missing out on thousands of pounds because they think the service we offer is too good to be true, too much hassle or too much work.

“I can assure them that’s not the case. The client’s involvement is fairly minimal as we carry out more than 90 per cent of the work.

”R&D Tax Claims works on a no win no fee basis, and Mark stresses that extensive rewards can be gained without risk and with minimum investment of time. Many of their clients come from referrals from existing clients, accountants and bank managers.

One of the success stories is MIM member A&M EDM Ltd of Smethwick, who provide high specification precision-made parts and tooling to the aerospace and automotive sector.

“Over five years we have recouped £224,538 in corporation tax for A&M EDM, which considering they initially thought that claiming R&D would be time consuming, costly and difficult to prove is quite a result,” added Mark.

Mark Evans is a qualified accountant who until recently was running his own business alongside R&D. In March this year he sold the accountancy business to focus solely on R&D Tax Claims. In June, they relocated from Pendeford Business Park to new premises in Shrewsbury. Last October, the business expanded with the opening of a second office in Warrington.

“After 23 years in accountancy I felt the time was right to move on,” commented Mark. “The growth of R&D had surpassed even my own expectations, and focusing solely on this business was the right thing to do.

“I thoroughly enjoy the work, and get real satisfaction from generating untapped funds for my clients.”

Mark employs a team of four consultants, who go out and talk to companies. Their engineering backgrounds and experience, says Mark, give R&D its USP.

“The team can talk to companies in their own language. They can ask the right questions to establish the information we need quickly, concisely and comprehensively.

”R&D Tax Claims is an active patron of Made in the Midlands, and supportive of its ideals. “We have found that the companies who are members of MIM are precisely the type of SMEs who we can help claim back extra tax relief from HMRC on every pound they spend developing new products or introducing new and improved processes.”