BROWN BUTLER SECURES R&D TAX RELIEF FOR TEACHING INNOVATION BY KEIGHLEY-BASED BRITISH THORNTON ESF
Expert advice from Leeds chartered accountants Brown Butler has enabled a Keighley company to claim significant tax relief on money invested in the development of an innovation in science teaching.
British Thornton ESF, a leading furniture manufacturer supplying the education and science sectors, secured the relief after developing the Re:action service hub range. This comprises turntable-based products with locks at regular intervals in their rotation which combine the supply of electricity, data, water and gas.
Innovation: Pictured with a Re:action service hub at the Joseph Rowntree School in York are (from left) Gary Wilks, financial director, British Thornton ESF; Brown Butler partner Robert Solyom and Stuart Little, director, British Thornton ESF
Working closely with British Thornton ESF, Brown Butler partner Robert Solyom helped the company claim research and development (R&D) relief against the company’s corporation tax liability.
British Thornton ESF director, Stuart Little, said: “We were able to develop a device which enables the Re:action range hubs to be easily configured to suit virtually any application including small group work and practical demonstrations by teachers.
“Robert and his team at Brown Butler were instrumental in enabling this project to progress due to their deep understanding of the R&D tax relief scheme. They were able to guide us through what is a complex process at a pace and with the minimum of fuss.”
The company’s financial director, Gary Wilks, added: “Brown Butler’s help was invaluable. The scheme has provided us with a real incentive to continue to innovate and we have every intention of doing so.”
Changes to the SME R&D initiative have seen the rate of relief increase from 175 to 200 per cent. This will rise again to 225 per cent from April next year, providing businesses with an even greater incentive to apply for it.
York’s Joseph Rowntree School was the first educational establishment to have the hubs installed, The design and functionality of the institution’s science areas have been recognised through winning the Most Versatile Learning Space title in the National Partnership for Schools Awards.
Robert Solyom commented: “We have considerable expertise and experience in helping a wide variety of businesses secure R&D tax relief so we were very pleased to be able to help British Thornton ESF benefit from its innovation. The Re:action range is very popular and is helping transform the use of space in schools and colleges.
“There is a misconception that R&D must involve laboratories and scientists. This scheme is much more about practical product and process innovation and with the right advice many companies will find they are eligible to benefit from it.”
Brown Butler is an independent practice with a 90-year history of providing business advice, accountancy and taxation services to a wide range of organisations and individuals throughout the north of England.