What We Do
Terry Toms and Partners Ltd trading as RandDTax was founded in August 2012. The company has 13 shareholders, all active in the business, and a total of 30 consultants operating throughout the UK. RandDTax has helped with over 3,000 R&D Tax Credit claims for more than 745 companies (mostly SMEs) – with a 100% success rate, gaining well in excess of £55million for those clients.
RandDTax is a member of TechUK, the UK technology industries trade body and works very closely with firms of practicing accountants, running regular CPD Workshops on R&D Tax Credits. As a result the largest part of our client base has been introduced by those firms, and our large network of independent business consultants, who serve the SME sector. The Directors and Consultants in RandDTax combine a wide range of senior management and technical experience gained in technology, engineering, manufacturing and in the finance and tax sectors.
Claims have been worth between £10,000 and £1m+ to our SME clients, with the average client benefitting by around £64,000.
We help companies in these situations:
- In identifying and scoping qualifying R&D in line with HMRC Guidelines. This may seem obvious but we find most companies tend to underclaim or do not recognize qualifying R&D at all.
- Help prepare the narrative and data to support claims and make them secure, avoiding rejection or time consuming HMRC enquiries.
- In auditing previous claims where we are still in time to submit uplift claims.
- Many companies are paying too much for R&D Consultancy Services. We can help.
- Where companies have claimed either on their own or with their accountants, and have run into HMRC enquiries, we have an excellent track record of verifying and defending claims.
To deliver a low cost, high quality, R&D Tax Credit technical scoping and justification service to the accountancy profession and SMEs in the UK.
RandDTax addresses the issues on a national level, to the benefit of innovative SMEs and the entire UK economy.
Help SMEs assess qualification, scope R&D work and justify claims.
Our aim is to:
- Set quality standards that are at a higher level than our competitors.
- Charge significantly less than our competitors.
- Maintain our 100% success record.
This will be achieved by the innovative use of Information Technology, efficient processes and deployment of skilled and well trained consultants.
Along with an SME client, Terry presented at the 2011 annual conference of the HMRC tax credit specialists, has helped run training workshops for HMRC, as part of an Intellect now renamed techUK (UK ICT industry trade body) initiative, and has spoken to a large number of business groups on the subject of R&D Tax. He qualified in banking, and is a Fellow of the Institute for Independent Business where he also serves on the UK Ethics Committee. He is also part of the Initiatives in Business Development (IBD) consultancy network and trained as a business mentor with SEEDA, the South East of England Development Agency.
Terry’s team includes 30 trained, regional experts plus a support team.
Read more about our ethics and approach to helping you scope and justify Research and Development Tax Credit claims.