The Women’s Business Forum organised by the Herefordshire and Worcestershire Chamber of Commerce and Thorne Widgery opened up a wonderful opportunity for technical translations agency, Balthasar Ltd. At the networking event on the 8th December 2015 held at Thorne Widgery’s offices in Hereford, Balthasar’s MD Heike Held met Carla Hollis from MSC Associates, a company dedicated to helping businesses claim back tax relief for the time and money spent on Research and Development.
In the conversation that followed both parties soon realised that the in-house project management system designed by the Balthasar IT team could well qualify for such a tax rebate.
Balthasar specialises in technical translations for industry. As part of its ongoing strategy to remain competitive it had invested heavily in the development of an online ordering system which dovetailed with project management, accounts software and state of the art computer assisted translation tools.
Customers benefit from smooth project management and transparent charges, as well as high quality translations and consistent use of agreed terminology – in every required language. It had never occurred to the Balthasar team that they might be eligible for a tax rebate for some of the time and effort spent on this system’s development.
The team at MSC were extremely helpful. Mick Merrick arranged to visit Balthasar offices in Ross on Wye to discuss how to proceed. It was at this meeting that the MSC team determined that Balthasar had a claim to make. Mick asked for information to be provided at the next visit concerning the number of staff involved in R&D process, the time each member spent on the project and details about salaries so that a calculation could be made as to the financial cost to the company of this research.
During the second visit, detailed technical questions were posed to the team involved in the R&D by Mick Merrick and Steve Crooks (MSC Directors) who also looked at the software itself and ascertained how and why it was novel and what technological difficulties had to be overcome. The whole process was seamless and very professional. The assessment went very well with the team from MSC feeling very confident that Balthasar had met the R&D Tax Relief criteria and would qualify for a tax rebate. Further to this meeting, the team at MSC produced a detailed technical report and supporting financial statements (effectively a business case) and submitted this to HMRC.
Within just a few weeks Balthasar were informed by MSC, who provide a managed service, that the claim had been successful. Balthasar received a substantial rebate that has enabled them to upgrade its server and data storage capacity two years ahead of the planned schedule. For Balthasar the result has enabled them to improve the service they offer to their customers all over Europe and the UK making it even more efficient and speedy.
MSC Associates are a Hereford based firm that specialise in R&D Tax Relief and are experts in their field with an enviable track record, having delivered tax savings in excess of £5M for their clients. To find out more about R&D Tax Relief please contact Carla Hollis at Carla@mscassociates.co.uk or on 07738 698037.