Cash Flow
These are testing times for all businesses. As an R&D Incentive Consultancy, we feel fortunate that the contribution we can make is in helping companies access vital cash injections through the various innovation incentive schemes.
To give you the support you deserve to invest in what matters most to your business:
- We can complete R&D claims in full via video conference
- We aim to complete R&D claims in less than 2 weeks (in some cases inside 24hrs)
- Minimal time input from the client
- HMRC are committed to making payments inside 28 days
- Funds can be with you inside 6 weeks.
- If 6 weeks is too long, we have partners who offer loans using future R&D income as security.
We can complete your R&D claim in full via video conference
Here’s how it works:
Key Updates from HMRC in light of COVID-19:
Contingency plans, including applying extra resource, have been put in place to maintain aim of clearing 95% of claims within 28 days
R&D repayment claims are typically offset against other tax liabilities due. However, HMRC have now confirmed that tax deferrals under coronavirus support schemes will NOT count as tax liabilities. Therefore, use of the deferral arrangements will not reduce or delay your R&D payments
HMRC will be sympathetic to claimants currently facing operational difficulties, so may be able to accept a late claim
We have requested clarity on whether the various COVID-19 relief packages will constitute a notified state aid, which can determine whether you can claim under the RDEC scheme at roughly 10% or the more generous SME scheme of up to 33.35%
Resources to help deal with COVID-19:
These are testing times for businesses across the globe. Times like this require a unified effort across our community to support each other in any way we can.
Kene Partners have put together a list of content, individuals and businesses that can provide help, support and guidance through the various challenges brought about by COVID-19.
Accessing Government Loans
Jimmy McLoughlin, former Business Advisor to the Prime Minister has started a newsletter that is directed at UK entrepreneurs and Small Businesses trying to navigate support that the Government and other agencies are offering. He uses his unique position as someone who knows how hard it can be for Government to reach out and how tough business can find it to navigate the labyrinth that is gov.uk enables him to provide thoughtful, direct insight and point you in the right direction.
You can sign up to his newsletter here.
Protecting your Supply Chain
Data and analytics are key to understanding how supply chains could be disrupted by COVID-19. Businesses that understand the true impact to their own operations, and are proactive in diversifying their portfolio of suppliers and limit dependencies, could see far less disruption to their operations than those that don’t. Data analytics firm Dun & Bradstreet have released a free webinar to ensure businesses can prepare themselves for the challenges ahead.
You can watch the webinar here.
Being Mindful of Mental Health
Isolation is the biggest challenge of remote working and it therefore more important than ever to be mindful of the mental health of you and your team. Spill is a business that helps employees access professionals to talk about their mental health. They have pivoted their service to become fully virtual, enabling employees to work on their mental health while working remotely.
You can find them here.
HR Implications of COVID-19
How and where we work has changed beyond recognition over the last month and this has thrown up multiple HR challenges and complications. Grappling with this new reality we’re facing is testing businesses of all sizes. HR Software firm Charlie HR have been providing valuable guidance and updates on their blog and podcast on how companies can prepare and manage the impact of COVID-19.
You can find a blog post from them here on the practical implications of COVID-19.