Scottish technology companies given a “jump-start†to access £540m investment
Scottish technology companies given a “jump-start” to access £540m investment
Edinburgh based technology company, Jumpstart, is securing much needed funds for Scottish companies by assisting with their claims through the government’s R&D tax credit programme. The average refund secured for SMEs is £40k and the work is completed on a success fee basis. If a company is already claiming, Jumpstart will engage with the company to make a substantial uplift on past claims. The good news is that the programme allows companies to claim for the previous two financial years.
Jumpstart has been successful in securing these funds by using their comprehensive knowledge of legislation combined with a deep understanding of the technology employed by their clients. Don Galloway, a director of Jumpstart, said “We employ honours graduates or postgraduate in technology fields. Within Jumpstart, we have specialists in chemistry, biology, IT, communications, engineering and software engineering. This in-house expertise combined with our exceptional understanding of legislation ensures we maximise the claim for our clients.”
A significant barrier to accessing these funds is that many companies do not think they are eligible for the programme. Since the programme is tax-based, they test their eligibility by asking a financial person like their accountant or auditor for advice on their eligibility. However, the driver for eligibility in this programme is technology and an insight is required from a person with strong understanding of the science and engineering within their business.
Craig Clark Managing Director of Clyde Space recently signed up for the Jumpstart service and tells of his experience.
“We had looked into claiming R&D tax credits, but due to having received a SMART award we were told by our then financial advisors that we were ineligible for a claim of this type. We met with Jumpstart and not only did they manage to secure the claim, we were allowed to surrender our past losses for an enhanced value. The result was that our claim secured us a significant sum of money that we otherwise would have missed out on. The whole process took 9 weeks from start to finish. We are absolutely delighted.”
If you would like to have a no obligation assessment of your eligibility then make contact by e-mailing helpinghand@jumpstartuk.co.uk or call them on 0131 240 2900.