Services

We can we help you by offering a multi-disciplined team with a breadth of business experience at all levels and across a wide range of business sectors. This means that we can provide a selection of services to meet your specific needs, whether they are small, medium sized businesses or large company operations.

R&D Tax Credits; GGTC are the largest handlers of R&D Tax Credit claims for UK SME’s.

Full Service ; We can deal with all aspects of the work from identifying the opportunity with a FREE no commitment initial evaluation through to the detailed claim development of eligible activities and projects with full quantification and validation of the claims and liaison with HMRC to deal with and resolve enquiries to agree the claim.

Scoping ; An experienced technical expert and analyst will visit to obtain the information necessary to develop and complete the claim which includes a commentary on projects with compliance narrative and the full financial evaluation.

Support ; You may choose to prepare aspects of the claim in-house but to ask us to be involved in certain areas. We can offer you an Accountant experienced in R&D Tax Credits. You may want help to scope your eligible activities but to quantify the claims yourselves, although our track record indicates that we have the capability to double claim values compared to our competitors. Additional business services are available.

HMRC ; As the largest filers of R&D Tax Credit claims we have the experience to deal with HMRC on your behalf where you have prepared a claim and submitted this to HMRC but need support to resolve their claim queries and enquiries.

Radar ; Our industry unique, secure R&D tracking system. The requirements of record keeping imposed by HMRC is now more rigorous in that information to be provided by you is to be kept on each project rather than just your overall R&D costs in the period.

Training ; We can provide on site and online training to get you started in preparing your claims internally. Our offerings are designed to suit your needs and preferences.

Grants ; Applying for grant funding can be a complex process, identifying whether a grant is applicable for your business and dealing with the application paperwork. We can help you manage this process from initial enquiry through to successful grant offer.

Fee arrangements ; We work on a no win no fee basis, our investment is in you. We also offer a fixed price or time based fee at agreed hourly rates

GGTC work on a No win No fee basis.

We work on a no win no fee basis. Our investment is in you.
We also offer a fixed price
Or time based fee at an agreed hourly rate

GGTC welcomes the opportunity to help clients receive their entitlement to funding from government for innovative product development. On average £40,000 a year.

R&D Tax Credits

Is your Company missing out on significant cost savings, grappling with how to cut costs or increase cash flow?

Companies can improve profits and grow by creating new high value-added products, processes and services. Continued investment in technologically based research and development (R&D) underpinning these improvements is particularly important for companies during the downturn, so that they are in a better position to compete in the subsequent upturn.

R&D tax credits are primarily a tax incentive and the biggest single funding mechanism provided by Government for investment in business R&D. So, businesses should check that they are taking full advantage of the credits. Many companies already recognise the value of the credit and the amount claimed increases year on year.

The latest R&D tax credit data (FY07/ 08) (published December 2009) shows claims increased by £100m/ 14% to £790m from FY06/ 07. The number of companies claiming increased to 7,450. The number of claims increased to 7,670. For detailed statistical analysis visit the HMRC corporate tax site.

The credit is made available to you in one of two ways: either as a tax deduction based on R&D spending, or if you are a loss making small or medium sized company (SME), it may be possible to surrender your losses in return for a cash payment from Her Majesty's Revenue and Customs.

It is estimated that over 150,000 SME's are entitled to this money but are yet to benefit.
Research and Development Tax Relief can help reduce your tax payments, or even inject much needed cash.
Clients use GGTC to help identify qualifying research and development expenditure, in order to increase tax benefits and potentially save money.

GGTC can help your organisation to obtain the benefits of this incentive.

If you have not made a claim because:

You or your accountants do not think it is large enough?
The process is difficult to understand and time consuming?

The R&D Tax Credit scheme is the primary way the government has of rewarding and or incentivising innovative companies.

GGTC specialises in helping clients obtain access to financial support from the government for innovation. We have an excellent understanding of technological advancement and are able to relate this to government schemes that reward such activity.

Our strength comes from our experience of processing claims for hundreds of clients across multiple industry sectors and product types.
Our success comes from our level of understanding of the rules of the schemes and the ability of our seasoned industry specialists to apply them in the way that is most beneficial to our clients.

As a results orientated operation GGTC works closely with government departments to secure the maximum recoverable development costs for businesses. We will:

Advise clients how to structure activities to maximise admissible claims.
Make both the technical and financial evaluations essential to validate the claim.
Manage HMRC enquiries and visits, on our client's behalf.
GGTC will work with a client's existing accountant or will provide one already qualified in managing R&D Tax Credit claims.

GGTC offers a full service, preparing and managing a claim from start to finish in accordance with HMRC processes. We develop strong relationships with Accountancy firms to strengthen their client services and improve success with this scheme.

Maximizing your claims is 85% industry expertise and 15% accounting.

GGTC can make a tangible difference to your business.

Until talking to GGTC many companies did not believe they were entitled to claim or realize how substantial their claim could be.

Companies currently claiming, are in our experience, missing 80% of their entitled claim value which could have been used to improve cash flow, reduce the net cost of R&D investment and enable continued investment in technology and innovation; ultimately enhancing a company's productivity and valuation.

Why do our team deliver better results?

R&D Tax credits are our single focus. We have a national team comprising former company directors, technology specialists and accountants to give good coverage and a deep understanding of all aspects of the scheme.

We know the process and have a depth of knowledge that can only be gained from focus. The fact we process more claims than any of our competitors makes GGTC No1 in the market for SME' claims. We have made it our business to build a close relationship with HMRC, which enables us to stay ahead of the game, enable your full entitlement and compress the processing time for you to receive the benefit.

The GGTC team takes the time to understand your business so solutions can be created to ensure your needs are met along the way. Team members have served on local, regional and European committees of professional bodies and have been part of strategic advisory teams helping SME's. Between us we have a wealth of consultancy and project management experience in SME and Multi-national organizations. We have developed private businesses from the ground up and served on the boards of PLC's as well as undertaking Non-Executive positions.

GGTC will qualify your entitlement and manage the whole process in accordance with HMRC procedures.

Assess the claim opportunity.
Complete technical and financial evaluation.
Submit claim to HMRC, directly or via the Accountant, and manage the interface.
Respond to inquiries from HMRC.
Make payment upon receipt of tax credit, on average 3 months after submission.

GGTC will arrange a meeting with you to discuss the claim opportunity.

In advance of this we will send you a Non Disclosure Agreement, which protects both parties and allows discussions to take place without concerns about confidentiality.
We would also request that you have a full set of Accounts available at the meeting as this contains vital information that will allow us to assess your innovation activities.

Once a claim opportunity has been established, we would ask you to sign a contract of engagement including our terms and conditions.

Our technical expert and analyst will visit to obtain the information necessary to develop and complete the claim which includes company history, a list of the projects, commentary on projects with visual evidence and compliance narrative, the financial evaluation based upon employees involvement in projects, their time allocation and additional development costs.

An Accountant will then consolidate the claim and amend the CT600 and then file the claim with HMRC. If you choose, we can provide an Accountant experienced in the R&D Tax Credit scheme

We will act as the HMRC interface, we manage inquiries and resolve queries through HMRC along with any meetings.

Arrange payment to the client.

GGTC have helped hundreds of companies qualify for payments averaging £40k a year. With GGTC you have:

The confidence that your company is optimising its benefit from this incentive.
Experts running the process on your behalf leaving you free to do what you do best - manage the business.
Peace of mind to know that you have knowledgeable professionals monitoring R&D Tax Credit trends.

The benefits of a successful claim.

Improved cash flow by reducing tax liabilities or by obtaining repayable credits.
Accelerated tax benefit on eligible capital spend.
Reduced net cost of research and development conducted in the UK.
The ability to make a claim for two years retrospectively.
Continued investment in technology and innovation.
An improved internal understanding of research and development relief's for both financial and technical staff to help them identify future qualifying activities and expenditure.

Please click here to find out how your company's innovation may be rewarded.
We will contact you by return.

Radar - Record keeping for R&D Relief

HMRC state the following on record keeping;

There is no specific record keeping requirement for R&D Relief claims. But the general Corporation Tax requirement to keep sufficient records to support the entries on your Company Tax Return still applies.

HMRC doesn't expect you to create new primary business records just for an R&D Relief claim. But you may need to maintain your business records in a different way, to allow you access the information you need easily.

Before you make your claim, you may want to involve your R&D staff in the process. This will help you identify qualifying activities and expenditure.

HMRC may ask to see your company or organisation's records when they make a compliance check into your Company Tax Return or R&D Relief claim made separately from a return.

GGTC now offer an industry unique, secure R&D tracking system. Following the success of your initial claim the on going requirements of record keeping imposed by HMRC are more rigorous in that information is required to be kept on each project rather than your overall R&D costs in the period. RADAR provides a consistent, secure, efficient and effective methodology that will predict the size of your next claim. GGTC have worked closely with HMRC in RADAR's development, consequently your company's use of RADAR will automatically optimize the size and the success of future claims and minimize the risk of HMRC enquiry.

Grants

Applying for grant funding can be a complex process, identifying whether a grant is applicable for your business and dealing with the application paperwork. We can help you manage this process from initial enquiry through to successful grant offer.

We identify grant eligibility for your company.
We get the funding body involved at an early stage reducing potential problems.
We complete the application form, compile a business plan and prepare the financial forecasts required when requesting grant funding.
We manage the submission and grant review process, attending meetings and act as negotiators with the funding body to maximise your grant offer and minimise conditions attached to it.
UK Capital Investment grants are available now to 100% of the UK for SME's, as of October 2008. These grants are given to companies who have a financial need for support and are investing in new capital items for growth such as new production space and new plant and machinery. Typical grants are in the region of 10%-35% depending on location.
UK Research & Development grants are not dependent on your business location. Specific projects are funded to research, develop or acquire technologies needed to turn good ideas into commercial products. This funding is given where the project results show a leap forward in technology understanding and it's development. The Grants range from 35% to 60% depending on the particular scheme.

GBI - Grant for Business Investment

SFIE, Selective Finance for Investment, has just been re-launched as GBI, Grant for Business Investment. The application procedure and guidelines for the scheme are virtually identical as the old SFIE scheme however with a few major changes influencing future applications. GBI is a discretionary BERR grant scheme aimed at financially supporting manufacturers and added value businesses in England. These businesses must be planning to embark on either a capital investment programme or a project which is more heavily weighted towards new employment rather than capital expenditure. Both should assist in accelerating the company’s growth but for which also an actual or potential financial shortfall may exist on the project. Applicants can be start ups to large multi-nationals.

GRAND – Grant for Research & Development

The Grant for Research & Development is a Department for Innovation, Universities and Skills (DIUS) scheme, which replaced the former DTI's 'Smart' scheme. It aims to help start-ups and SMEs carry out research and development work on technologically innovative products and processes. There are four types of grant available within the scheme, each supporting different types of research and development project, and each requires the applicant to make their own financial contribution to the project costs.