Taxar-Business-Clan

Introducing our latest partner, R&D Experts Taxar Innovation Partners

We’ve been collaborating with Taxar Partners to understand how best to support our clients’ growing interest in Research and Development (R&D), as they innovate.

What is R&D?

R&D can encompass a wide range of activities, including pursuing something new, or previously unachieved, refining existing products or services beyond previously accomplished, or even fundamental scientific research. Essentially, any operational problem-solving activity that aims to generate new knowledge or translate ideas into practical applications can be classified as R&D.

Depending on the business environment, and intentions of the business, R&D can vary from business to business. The business strategy, innovation challenges, and even the process applied to the activity can significantly affect the positioning and outcome of the R&D approach.

What is R&D tax relief, why is it important and are you eligible?

R&D tax relief, also known as tax credits, is a government initiative designed to reward UK businesses that invest in innovation. Qualifying UK Businesses can mitigate the cost of their investment by claiming corporation tax relief on their R&D projects.

If you’re spending money on developing new products, processes, services, or enhancing existing ones, related expenditures could qualify for R&D tax relief. Designed to offer opportunities to invest in resources that facilitate advancements; it can come as either a cash payment or a reduction in Corporation Tax.

But what’s really important to understand is how an innovation and R&D strategy can sustainably leverage opportunities and manage risk within your business. A forecasting tool that can meaningfully and consistently be resilient against changing market conditions.

Therefore, it is recommended that once a business secures tax relief, they should reinvest the funds into further innovation within the business. This approach ensures continuous improvement and tends to increase the value of R&D claims as the business expands.

Are you eligible? It is worth speaking to us and Taxar Partners as the experts that can evaluate any claim. R&D occurs across virtually every sector in the UK, so there’s a strong likelihood that your business activities could be eligible.

When we received our R&D tax credit, the value far exceeded our initial expectations. Being able to reinvest the money back into our business has really helped us work towards our objectives and invest in further R&D projects.
Neil LockettOperations Director

Who are Taxar and how do they work?

Ryan Conradie started Taxar after seeing a gap in the market for a company that offers a consultative approach to help businesses implement their own innovation strategy and get the most out of their R&D claims.

Ryan Conradie

Taxar’s approach is to focus on the details. They aim to deliver the most comprehensive and robust R&D Tax Relief claim process to ensure that your business receives the most value from your innovation efforts and the R&D Tax Relief credits available to you.

Taxar is a reputable specialist who offer confidential advisory support in the form of a best-practice audit, a one-off consultancy project or in generating a full end-to-end R&D Tax claim. Their process is informed by legislation-led insights with a quality assurance process that maximises your R&D tax credit claim, stands up to HMRC scrutiny, and shields your business from risk.

Why has Business Clan partnered with Taxar Partners?

We have partnered with Taxar because our mutual interests in championing innovation align perfectly.

Taxar has helped our clients with:

  • Streamlining processes
  • Reducing overheads
  • Entering new markets
  • Expanding product/service ranges
  • Driving quality throughout their operationsStrengthening supplier
  • partnerships
  • Protecting intellectual property
  • Creating additional long-term opportunities for their stakeholders.

Ultimately, working with a transparent team who are truly behind your business and not focused on how much money is being squeezed from invoicing, provides our clients with the confidence to go about their innovation journey. We are assured that our partnership with Taxar will offer our clients the best possible opportunities for success, enabling and supporting growth by helping you remain competitive and highly resilient.

Get in touch at hello@businessclan.com or ring us on 020 3488 4811.

Taxar's extensive technical knowledge has delivered more than 40% growth in the claim value received from HMRC which has allowed us to innovate our products and services more confidently.
John SmithFounder
Strategy Team
Are you eligible? It's worth speaking to us as the experts that can evaluate any claim.
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