Saddington Baynes were introduced to Jaime Lumsden of RandDTax in late 2014 by a Senior Partner in an Accountancy firm with several Clients successfully claiming Tax Credits.
Like many creative businesses, in our case specialising in production work for Blue Chip organisations seeking to enhance their marketing efforts, we employ the best digital team that we can afford. Our R&D costs were draining cash and the prospect of significantly redressing this imbalance couldn’t have happened at a better time for Saddington Baynes. Our first claim alone generated more than £230K of cash, and within just seven weeks of first meeting Jaime. Suddenly, we realised that our investment in front-end image production was actually costing us some 33% less than we had expected. Instead of being cash strapped when wanting to invest in R&D, we now had a more consistent cash-flow giving us the flexibility to drive forward the development of our new technology solutions, backed by a healthy reserve.
Since working with RandDTax and our own Tax Accountants, we have successfully claimed for the last four years. With Jaime’s expertise and support, helping us to explain our R&D advances in technology to HMRC and advising us on the qualifying costs to submit, our business is financially stronger. We are able to employ an industry leading development team and be even more innovative. R&D Tax Credits allow us to take the Research and Development risks necessary to consolidate our position as market leaders in our field.
This is a great initiative from HMRC and is proving to be significant in financing increased innovation here at Saddington Baynes. With RandDTax supporting us, we continue to maximise its benefit to our business.
Chris Christodoulou, CEO – Saddington Baynes Limited