Since 2014, Benchmark Consulting have been an essential partner for companies wanting to simplify their cost modelling. Their suite of web-based tools provides a market-leading solution for price quoting and price estimating for packaging converters, supported with customisable reporting to ensure positive commercial outcomes.
“It’s interesting being part of this industry; lots of people still use spreadsheets. We were told that a packaging price modelling tool would be impossible to create; but with lots of hard work, we did it.”
They launched their industry-first Carbon Calculator in 2021, enabling companies to get an accurate reading on their packaging carbon emissions, from cradle to factory gate. This allows businesses to make sustainable decisions, whilst their on-pack carbon labelling helps support consumers in making informed choices.
“Carbon footprint modelling is something that all companies need to start following. Whilst our solution isn’t the cheapest, you get what you pay for – accurate carbon reporting that’s interlinked with everyday operations so it doesn’t require any extra leg work.”
Benchmark Consulting wanted to find a way to lower their corporation tax bill so they could invest more money back into the business to fuel future growth. After speaking to their accountant, they realised that R&D tax credits could be an option. They came across Kene Partners online and after considering different advisers, decided Kene Partners best matched their needs.
“Our accountant doesn’t offer R&D tax claim services as, like most accountants, they don’t have the relevant experience. What attracted me to Kene Partners was their expertise – they really know what they are doing. I don’t have a lot of time, so I needed to have a partner I could rely on to get the job done to a high standard. Kene Partners delivered on all their promises.”
What Benchmark Consulting do is very niche, so the Kene Partners’ consultants needed to spend time with the team to get to know the business. After spending a day at their office, they were able to identify relevant projects to include in a robust R&D claim report and quantify a representative benefit figure. This was then condensed into a technical report that, once approved by Benchmark Consulting, was sent to HMRC.
“Whilst our business is very specific and takes some explaining, Kene Partners hire intelligent people who were able to understand what we do. Whilst the workshop is time-consuming, it’s the most effective way to gather the required information. It’s a valuable use of time that pays off in the end.”
The majority of the day-to-day work that Benchmark Consulting do is developing and upgrading their current product offering to meet industry demands. Their claim included an upgrade to their system to account for the plastic packaging tax introduced by the UK Government in April 2022, plus the development of their ground-breaking Carbon Calculator tool.
“We’re now working on a price indexing tool to add to our system. With the cost of raw materials going up, it’s a huge time drain for our industry. Being able to automate this process would be game-changing.”
With a business built on forward-thinking ideas, R&D tax credits can be a useful source of income to fuel progression. We were pleased to secure Benchmark Consulting with additional funds to help support their future innovation.
“The money we gained from R&D tax credits enabled us to invest in new software and staff – something we otherwise wouldn’t have done”
R&D tax credits should be considered for all businesses that invest in new or existing products, services, processes, devices and/or knowledge.
“We will absolutely consider R&D tax credits in the future – I don’t see us ever stopping. Knowing where the business is heading in the next 12 months, it’s going to open the door to much more innovation. Any business that is looking to aggressively grow will inevitably incur more cost, so anything that we can do to help support that journey is essential.”
“We have already recommended Kene Partners off the back of the work they did for us. They are a strong team and we thoroughly enjoyed working with them.”
We have already recommended Kene Partners off the back of the work they did for us. They are a strong team and we thoroughly enjoyed working with them.
Arrange a free consultation with our team of R&D tax experts today. It’s our mission is to help companies of all sectors and sizes access millions of pounds of government money set aside to support forward-thinking businesses. We’d love to help you.
R&D Tax Manager