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Tax specialist based weeks earlier than pandemic hits £15m in R&D rebates as new jobs to be created

A Manchester tax specialist solely based 18 months in the past has already claimed again £15m in rebates for companies.

Recoup Capital, which works on R&D tax rebates with UK corporations in each sector mentioned its common declare is £123,000 – 146% over the £50,000 nationwide common.

Recoup, based simply weeks earlier than the pandemic hit, has lately doubled headcount to eight and is predicated in Manchester metropolis centre.

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The Manchester-based specialist works with sectors together with property and the constructed atmosphere, hospitality, tech and farming.

The agency’s MD, Anthony Doran, mentioned hundreds of companies are lacking out on hundreds of thousands in R&D credit.

He mentioned: “Our goal is to assist UK companies declare £75m by 2022. Whereas bold, it’s lifelike.

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“Our purchasers give nice suggestions on how they’ve benefitted from claims, which embody laying a basis for progress, money movement enchancment, hiring and customarily thriving moderately than surviving.”

From September, following the launch of a brand new batch of recent merchandise, the corporate is getting ready to develop its workforce additional.

The corporations Recoup has labored with embody El Gato Negro, Property Alliance Group, PP O’Connor and Freedom Brewery.

Launched in April 2000 by HMRC, the R&D tax credit score incentive rewards UK restricted firms for investing in modern merchandise, companies and processes – as much as 33p for each £1 invested.

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Mr Doran mentioned companies are too typically advised they don’t qualify.

He added: “Companies also can really feel they don’t have sufficient data of the tax system, that means they miss out on vital money boosts which can be utilized to higher their enterprise.

“We all know that hundreds of UK companies are leaving hundreds of thousands on the desk by not claiming again rebates and we need to change this course of journey for the nice of each particular person companies and the broader economic system.”

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