Successful innovation requires foresight and vision – and sometimes occasional pivots. We’re the dynamic consultancy that does the same.
Our unique approach prevents you from losing out on non-repayable capital you could have claimed with simple, real-time changes that qualify you in, while still meeting your commercial goals.
Hindsight’s not a wonderful thing for innovation tax relief
They say that fortune favours the brave. Yet the standard approach for claiming R&D tax credits and Patent Box tax reliefs doesn’t.
Normally, a consultant will come and see you, look at your prior accounting period and determine what activities and expenditure qualify.
This has a number of drawbacks for SMEs
12 months is a long time. Lots of decisions are made and money spent without considering how minor issues can impact your eligibility. It’s then too late to change.
Claiming one type of funding can significantly affect your ability to claim another – at a huge potential cost.
It forces you to find a way to ‘justify’ activity as qualifying – this can add risk to the claim.
You could miss out on the opportunity to claim because you undertake great projects or activities, but they don’t meet qualifying criteria.
All of these drawbacks can result in you losing out on extra cash relief or funding. We never like to over-promise or make general claims as each project is different. However, we’ve worked with a number of clients where taking a proactive instead of reactive approach results in:
20-25% average extra tax relief or funding
Our proactive, “big picture” approach to innovation relief and funding
We work with you at the outset of new projects – and as they develop – so that their structure and goals ensure maximal funding. We look at all of the available sources in harmony.
With our proactive approach, you can afford to take more calculated risks, safe in the knowledge that your activities will qualify now – and in the future.
01
Do you meet innovation relief and funding eligibility for future projects?
We look at whether your past and future projects qualify for the full range of innovation funding available – from innovation grants to R&D tax relief or Patent Box relief.
We take a holistic approach to all available sources, as claiming one may require strategic planning to receive optimal benefit from another.
02
Can you pivot your project aims or restructure them to qualify for more whilst still meeting your commercial goals?
We assess if any changes to your projects could result in an innovation advance that entitles you to more funding or relief. If so, we instruct a competent industry professional to visit you to determine what can be done and analyse whether it’s beneficial for you. We also look at your company and project structure and whether minor changes opens up more avenues for funding or tax relief, such as compartmentalising projects or finding alternatives to Ltd company subcontractors.
03
We become embedded in your R&D process.
We work alongside your R&D process or help you establish one if it doesn’t exist. That way, we’re always aware of when you embark on any new projects or if your goals have changed. We then repeat the process to help you benefit more. We also simplify your accounting to make it easier to extract the information, leaving you to get on with business.
04
Submitting your claim.
We compile the technical reports and expenditure summary for you, leaving you to get on with the projects at hand. We submit these and deal with any correspondence. You’ll then typically receive your payment within 4-6 weeks.
You don’t pay unless your claim is successful
We are confident in our process and success rate, so we don’t charge anything until your tax benefit has been received.
Invo are just real. Real but with confidence – not pushy or showy. They didn’t over-promise saying we can definitely get you this or that. They asked me to provide them with certain information before they came back with an initial assessment and we signed.
Andrew Porteous
Director, Electrical Distribution Solutions
I was introduced to Invo, who came into my business and took an active role. They talked with me about my plans ahead of time and created a great strategy. I found that, if planned appropriately, my new composite door repair process development could qualify for cash back by slightly altering my aims to meet the HMRC guidance. This entailed experimentation being undertaken to find optimum materials and construction technique parameters.
I have used the money to hire several new staff members, my revenue has increased since partnering with Invo , and we have won business on the back of our R&D projects because we are different. Thanks to Invo, we have a deeply embedded R&D culture which is low risk thanks to the funding. I feel like we are back on track and destined for success.
Ryan Tetley
Director, Magnum Opus Ltd
