ENGLISH bakers are set to enjoy some tasty savings thanks to an Edinburgh-based tax specialist that has already trimmed the outgoings of Scottish firms, including the maker of the iconic Killie pie.
Jumpstart, which was founded in 2008 and specialises in research and development (R&D) tax relief, has been working with industry body Scottish Bakers and claims to have generated savings of almost £500,000 for member companies.
Among those reporting significant gains are Brownings the Bakers of Kilmarnock – best known for its signature Killie pie sold at the town’s football ground – Bells Food Group of Shotts and Glasgow-based Calder Millerfield.
Now tax experts at Jumpstart are to turn their attention to English-based bakers following the success of the initiative north of the Border. It has enlisted the help of the Craft Bakers Association, an English trade organisation with more than 600 members. A London-based baker, dating back nearly 150 years and with 600 product lines hopes to be the first to reap the benefits of the tie-up.
Brian Williamson, managing director of Jumpstart, said: “This illustrates that R&D tax relief is relevant across a wide range of sectors, and not confined to science or technology-based enterprises. Scottish Bakers has worked very closely with us and the results are really starting to show. We will soon take our offering to bakers in the rest of the UK and that will be the icing on the cake.”
Since its inception, Jumpstart has helped its clients recover more than £50 million in R&D tax relief and lays claim to a success rate of almost 99 per cent.
John Gall, MD of Brownings, said: “Bakers conduct projects all the time that are eligible under the scheme and when we got the tax refund we were extremely delighted and surprised.”
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