North West-headquartered tax relief specialist Access2Funding helped UK SMEs claim back £15.7million in R&D tax credits last year.
Award-winning Access2Funding, based on the Wirral, is knowledgeable in all aspects of corporation tax, and this year the tax specialist’s focus is on further assisting businesses with their growth plans via additional services in its tax portfolio for SMEs.
In 2021, Access2Funding increased its UK client base by 35%, with the biggest upturn coming from construction firms, which accounted for 35% of new innovative clients, followed by manufacturing companies at 27%.
As well as providing business support with R&D tax relief – a government initiative created to reward and encourage UK companies to invest in innovation – Access2Funding has four additional tax relief services in its portfolio: embedded capital allowances, land remediation relief, patent box and R&D capital allowances. This portfolio of tax services, alongside the hiring of three tax managers in 2021, has allowed the firm to support even more businesses than ever before.
Dawn Coker, CEO at Access2Funding, said: “2021 was an exciting year for the whole team at Access2Funding, as we supported a variety of businesses as they navigated their way through the pandemic and sought new sources of funding, such as HMRC’s various tax relief schemes.
“R&D tax credits is still our main service offering, with our team of tax and sector specialists helping businesses secure maximised claims for innovation. In September 2021, HMRC reported that UK businesses received £7.4 billion in R&D tax credit relief in 2019/20, but there is still a large sum going unclaimed, as is the case with many of HMRC’s tax relief schemes.
“We are extremely proud to have secured £6.6 million in R&D tax relief for businesses in the North, more than £3 million for Midlands-based businesses and £1.9 million for businesses in the South, as well as supporting many businesses across Wales and Scotland.
“Our aim is to highlight the benefits of tax relief schemes and our additional services such as land remediation relief and patent box will allow us to provide added value and maximise growth potential for our innovative clients.”
In 2021, Access2Funding also completed its first acquisition, became one of the 15% of companies to be awarded ‘silver’ Investors in People status and became one of 16 North West businesses to receive the prestigious Navajo Chartermark for good practice and commitment to tackling LGBT+ inequality.
For more information on HMRC’s tax relief schemes or to speak to Access2Funding’s specialists, visit www.Access2Funding.co.uk.
