Jumpstart, the research and development (R&D) tax credit specialist, has secured two key partnership deals that will give the firm access to thousands of businesses.
Edinburgh-headquartered Jumpstart said it had signed a new agreement with Scottish Engineering, the national trade body.
The partnership gives Scottish Engineering’s member companies direct access to the firm’s expertise to assist in the preparation and submission of defensible R&D tax relief claims.
At the same time, Jumpstart has renewed its agreement with EEF, the trade organisation representing manufacturing and engineering across the UK. Through its “Advantages Partner” programme, the capital firm has qualified access to more than 3,600 EEF members to offer their services in relation to both R&D tax relief and patent box claims.
Established a decade ago, the research and development (R&D) tax expert has recovered tens of millions of pounds in reliefs for UK businesses, submitting thousands of claims in the process, predominantly in the software, IT and manufacturing sectors.
Around half that business relates to clients north of the Border but the firm has been actively pushing out beyond its Scottish roots.
Jumpstart partner manager Sandy Findlay said: “We’ve secured more than £100m in R&D tax breaks for our clients since launching with manufacturing representing a significant part of our business.
“While UK manufacturing companies have historically received around 30 per cent of all benefits paid out through the R&D tax relief scheme, we believe there is room to substantially grow the value of benefits being realised by the sector.”
He added: “With a constant focus on innovation, the manufacturing and engineering industries are vital to the UK economy. Whether companies are developing prototypes or enhancing their manufacturing processes, making better use of this scheme should help these companies free up more funds for reinvestment in innovation within the sector.”
The firm recently joined calls for an industry benchmark to be set to ensure all consultants operate with high standards.
Managing director Scott Henderson said: “There are many highly knowledgeable R&D advisers in the market providing invaluable guidance for clients and helping them recoup significant tax breaks for their investment in innovation.
“There are, however, also a number of mushroom companies operating in our sector with low professional standards.
“Not only do they threaten the reputation of our sector but they can also have a detrimental impact on the businesses they advise.”
Last year, a Leeds-based supplier to the brewing industry was placed in administration following issues with HMRC over disputed R&D tax credits.