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Niche tax consultancy goes from strength to strength

Business and Industry Today is proud to announce that Cooden Tax Consulting has been selected as our Tax Consultancy of the Month.

Simon Bulteel – headshot – taken by Sarah Bennett – Sarah Bennett commercial photography

Established in January 2013, Cooden Tax Consulting was founded by Simon Bulteel whilst he was still employed by a world championship winning motorsport business. In September 2013, he left the company to work full time in the business.

Based in Bexhill on the East Sussex coast, Cooden Tax Consulting has worked with companies in most parts of the UK, including Yorkshire, Staffordshire, Manchester, East Anglia, Worcester and Cornwall.

As a niche tax consultancy, they specialise in working with companies who have up to £50 million turnover to identify whether they have been working on interesting projects, which might be eligible for the government’s Research and Development Tax Relief. “Often a business just gets on and does what it needs to do to solve scientific or technological challenges that stand in the way of making a new or improving an existing product or process,” Simon tells us. “This kind of activity is identified by HM Revenue & Customs as being eligible for the most generous tax relief available to businesses.”
Their services have the potential to generate cash-flow of up to 33.35% of eligible spend for a loss-making company and up to 24.7% for a profit making company.

Simon Bulteel – presenting the A to Z of R&D Tax Relief at The Business Show – taken by Phil Burrowes – Avant Photographic

Simon explains that, “Many competitors are moving away from working with the smallest companies. Cooden’s view is just because a company is small today, doesn’t mean it won’t get larger. By working with a business when it is starting, it allows us to really get them on track in identifying projects and reporting costs in the best way to support future claims.”

Recently, Cooden Tax Consulting launched two new services. Their proofreading and claim review service is either for a company that has prepared their own claim and would like an expert to review it for them in order to highlight any weaknesses or areas where the claim might be improved, or for a company where an accountant has prepared the claim and they would like an expert to review it. Cooden’s second new service is tax enquiry support, which is again aimed at businesses that have prepared a claim themselves for which HMRC has decided to open an enquiry in order to investigate whether the project and costs meet the eligibility criteria.

Simon Bulteel – enjoying the lighter side of R&D Tax Relief with OSET Bikes – taken by Phil Burrowes – Avant Photographic

As well as the Research and Development Tax Relief, there is also a second option available to innovative companies, which is for businesses that have sought Patent protection for a product.

The government have legislated for the Patent Box, a headline which reduces tax to 10% on profit generated from the sale of a patented item. It is not a simple calculation of sale, however, as there are a number of other deductions that need to be made, but Cooden Tax Consulting is able to support businesses with a potential claim.

Photonics – testing solutions in a dark at a former client’s premises – taken by Phil Burrowes – Avant Photographic

Cooden Tax Consulting offer their services to a wide range of industries, including software and app development, engineering firms, food and drink manufacturers, and building products. This varied portfolio of clients reflects the diversity of companies that are eligible to claim for these tax reliefs, and the breadth of Cooden’s experience in different sectors.

“Our goal is to make claiming easy for the company, by reducing the amount of time they need to be involved in the preparation of the claim, and making sure they identify all of their research and development. We are very proud of our 100% success rate, and we have helped companies to claim in excess of £11 million to date. So that’s £11 million of cash flow back into all sorts of businesses up and down the country.”

Indeed, it is evident that Cooden Tax Consulting is going from strength to strength in the services they offer. If you would like to find out more information on how they can help you, head to their website or use the contact details below.

T 01424 225345