A regional mortgage adviser has received a five-figure tax relief sum thanks to working with Worcestershire-based Research and Development [R&D] tax relief specialists, Quantum R&D Tax.
Headquartered in Gloucester, The Mortgage Brain began working with Quantum R&D during the first national lockdown, after creating a highly sophisticated bespoke management system to automate many of its business activities. Offering the same functionality as third-party systems but at a fraction of the cost, The Mortgage Brain’s unique platform has meant its clients have a more interactive and convenient digital experience, allowing them to provide the necessary information needed for mortgage applications.
Having no previous experience with filing R&D tax claims, Enzo Mora, founder and CEO of The Mortgage Brain, approached Quantum R&D Tax on the recommendation of his company’s accountant who believed they may be entitled to claim.
As a result of its successful claim over the last two financial years, The Mortgage Brain has been able to offset the development costs from its R&D work, enabling the company to continually offer its clients an interactive and convenient digital experience.
Enzo explained: “Many business owners who are conducting R&D activities do not realise they are eligible to tax relief, just as I have found.
“After speaking to Michael and the Quantum R&D Tax team, we learnt that the work we had conducted in developing our management system qualified us for a sizeable R&D tax claim. Michael spent a great deal of time getting to know our business and the system we created to ensure he could put together a strong claim, which resulted in a successful outcome.
“The tax relief we received has enabled us to continually expand as a business. It has also encouraged us to continually update and develop our system as we know there is a case for claim in the future.”
Founded in 2018 by experienced Business Leader, Michael Newnham, and Chartered Accountant, Katherine Baines, Quantum R&D Tax focuses on working closely with businesses across digital, technology, food and drink, construction and manufacturing sectors.
Passionate about sustainability and environmental change, the firm makes a donation from each successful R&D tax claim to the United Nation’s 17 Sustainable Development Goals, which includes initiatives from supporting wildlife to providing clean water and sanitation to those living in third world countries.
Michael added: “According to the latest statistics, 55% of eligible SMEs are still not claiming for R&D tax relief to which they are entitled, meaning they could be missing out on significant sums of money to reinvest into the development and offerings of their business, just as we have seen with The Mortgage Brain.”
Headquartered in Malvern, Worcestershire, Quantum R&D Tax supports businesses UK wide. With a no win, no fee structure, the firm can help business owners understand their eligibility to claim with a simple discovery call.
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