A 3 in 1 service for R&D tax relief from Abbey+

We maximise government initiative for the past, present and future.
Each year, Abbey+ helps thousands of companies harness millions of pounds of R&D Tax Relief, R&D Grants and Patent Box Relief. With Abbey+, clients get a 3 in 1 service!
As these three distinct government initiatives go hand in hand, Abbey+ have set up one multi-disciplinary team of Chartered Tax Advisers, Accountants, Grant Writers, PhD Technologists and Patent Attorneys who work seamlessly together.

This depth of knowledge in one team is unrivalled. This market leading track record is a direct result of robust reporting methodology developed over the last 15 years and which is continually refined as a result of a close working relationship with Inspectors of Taxes, Funding bodies and the Intellectual Property Office.
R&D Tax Relief (Past)
Abbey+ will ensure that you have maximised your R&D tax credits by either reviewing what you have already done or simply claiming the relief on your behalf.

Claims can be made for the past two accounting periods which can often result in a significant repayment of corporation tax.

The first step would be to have a 10 minute pre-qualification assessment over the phone to ensure that you are maximising this relief.  Abbey+ fees are always contingent upon the success of a claim and Bionow Members benefit from a 20% discount on our fees.
Grant Funding (Present)
There is a raft of government grants in the UK and Europe. Navigating your way through this minefield is time-consuming and although you may have experience in writing grant applications, using a third party who specialise in this day in, day out should increase your chances of success. Abbey+ will carry out a search to find the appropriate funding and write the grant application on your behalf.

Abbey+ has extensive experience in winning R&D grants from numerous schemes for many companies and are proud to be leaders in terms of success rates achieved.
In addition to researching the grant market, writing the grant application and submitting it for approval, the fees cover the overall management of the contract negotiation process, taking on the paperwork burden that is always associated with the award of a public funded grant.
Once the project has commenced, the team will provide project support throughout the duration of the project. This will include:
  • Assistance with the quarterly claim forms, project reports and any other paperwork associated with managing the funding.
  • If necessary, rework of the project cost breakdown and cash flow forecast to reflect any reallocation of project budgets.
  • Providing advice on the protection of intellectual property (IP).
  • Identification of further funding opportunities should this be required to further minimise costs and reduce the risk of developments.
  • Clarification of possible routes to market and introductions to potential customers and
    end users.
  • Identification and recruitment of partners, subcontractors and resources for the rapid and efficient commercialisation of the projects results.
Depending upon the nature and size of the grant, Abbey+ usually charge a nominal upfront fee as most applications can take 2-4 weeks to write. On approval, Abbey+ charge a 10% win fee, Bionow Members receive a 10% discount on both the upfront fees and the win fees.

If the first application is unsuccessful, Abbey+ will re-write and re-submit the application to the same or a different funding body free of charge. As a first step, Abbey+ will carry out a search to find the appropriate funding free of charge.

Patent Application and Patent Box Relief (Future)
Since 1 April 2013, companies have been able to elect for a reduced rate of UK corporation tax. The reduced rate is 10% which has been phased in gradually over a five year period applying in full from 1 April 2017.
The 10% rate of corporation tax is applicable to products and services that incorporate patented inventions as long as the company owns or has an exclusive license to exploit the patent and meets certain development criteria.

To allow businesses to take advantage of the Patent Box as early as possible, Abbey+ has developed a simplified, fixed fee approach to obtaining UK patents before applying for the patent box relief. Abbey+ were the first advisers in the UK to claim Patent Box tax relief and have been at the forefront of this legislation.
The first step is for the Patent Box tax specialist to undertake an initial pre-qualification assessment which is usually done over the phone to help identify your needs and discuss how the Patent Box can be used to reduce your corporation tax liability. The initial consultation is free and Bionow Members receive a 20% discount on both the fixed fee patent application fees (if required) and the patent box claim fees.

For more information please call Natalia Shaw at Abbey+ on 0114 236 4457 or email n.shaw@abbeytax.co.uk and mention your company is a Member of Bionow.