Who we are?

GGTC were formed in 2006, although partners involved in the business have been associated with R&D Tax Credit claims since 2001. Whilst GGTC have partnerships with accountants they are not an accountancy firm and therefore the relationship with your accountant will remain as before. However, we can find an accountant with experience of R&D Tax Credit claims for clients if required.

To date GGTC have processed over £10m of R&D Tax Credit claims for approaching 300 clients making us the leading handler of claims on behalf of small and medium sized businesses. During this time we have developed an in depth knowledge of the R&D Tax Credit scheme and are able to define claim opportunities quickly and maximise claim potential.

GGTC have the resources and technical expertise to offer a full service to businesses that represents real value particularly to SME's who couldn't afford the fees of the large accountancy firms. Importantly, GGTC have formed a good working relationship with HMRC and understand their processes and qualifying requirements on what is a complex area of taxation.

This ensures that all R&D Tax Credit claims submitted will stand up to the robust scrutiny that can be expected by HMRC, thus ensuring compliance and avoiding unnecessary penalties and potential fines. Additionally, GGTC will deal strongly with any challenges, queries or inquiries made by HMRC on behalf of clients. We will conduct the initial R&D Tax Credit Claim opportunity free of charge and then operate entirely on "no claim recovered -no fee" basis -except for a small set up fee.

What we do?

  • GGTC works with a client's existing accountant.
  • We are a specialised, results orientated operation that works closely with clients to secure recoverable development and investment costs for their business.
  • GGTC work on behalf of the client and act as an important bridge between their accountant to evaluate, develop and prepare R&D Tax Credit claims in accordance with HMRC's required processes.
  • We are competent to make the technical evaluation and financial evaluation which is essential to validate the claim.
  • We work to add value and support to your accountant and improve their client services.
  • GGTC will advise the client how to structure activities to maximise admissible claims.
  • We offer the first R&D Record Keeping system for full compliancy with HMRC legislation, currently under pilot with HMRC.
  • GGTC have developed a close and unique relationship with HMRC and adopt their accepted claim procedures compliant with regulatory requirements.
  • We deal directly with HMRC on any enquiries including any meetings or visits that may be required.
  • GGTC will respond to HMRC challenges on any R&D Tax Credit claims with detailed supportable facts, documentation and evidence to ensure satisfactory settlement.
  • All submitted claims have been successful to date, that's around £7.5 million for its clients, with an average claim value of £40,000 in total.

GGTC build strong relationships with;

  • Clients
  • Accountants
  • HMRC

How we do it?

Customer R&D Tax Credit Claim Process

  1. Assess claim opportunity
  2. Complete technical and financial evaluation
  3. Submit claim to Accountant for filing with HMRC
  4. Accountant completes the tax and CT600 work as normal
  5. Claim is filed to HMRC by Accountant
  6. Respond to any HMRC challenges, queries and inquiries
  7. HMRC issue payment on successful claims

Why use us?

Most of the leading Accountancy firms such as KPMG, Deloitte, Price Waterhouse Cooper and Grant Thornton have specific units within their organisations to cater for highly specialist tax areas. These units are invariably staffed with scientists and technologists and have significant overhead costs associated with them, generally funded by large R&D Tax scheme claimants with multi-million pound claim profiles.

Preparing an R&D claim is not something that can easily be performed solely by the company, it’s Finance department or by their accountants in isolation, unlike many other aspects of company tax. The scheme itself is complex and extremely people resource intensive. When the Government introduced the R&D Tax Credit scheme it made a conscious decision that HMRC would not employ scientists or engineers to assess the validity of R&D Tax Credit claims. Their idea was that the technical staff performing the R&D or innovation would be the ones best equipped to make the assessment as to what actually qualifies for R&D Tax Credit relief.

Therefore the onus is on the company’s technical staff to determine with certainty the scientific or technological solution, or the lack of it, which determines if the R&D or innovation is actually being performed. This goes for even the smallest company. The R&D Tax Credit scheme is not black and white in its definition and requires a great deal of knowledge and experience. It is essential to submit an R&D Tax Credit claim that is both detailed and supportable to HMRC. In the event of HMRC raising a query or an enquiry, it will require the staff carrying out the R&D to provide their input into the claim and do this in a way which complies with the requirements of the legislation and reflects them onto the company’s own activities.

For the tax benefit to be understood it is vital from the outset that the technical staff know what qualifies as R&D for tax purposes. Unlike many other areas of tax, the technicians, engineers or scientists play a key role in preparing an R&D Tax Credit claim. To make the claim itself a company needs to assess whether it can perform adequately these tasks.

The reality is often like this;

  • Accountant: “We need to calculate your potential R&D Tax Credit claim, how much R&D have you done?
  • Client: “We don’t know anything about the R&D Tax Credit scheme”, “R&D is about men in white coats, it’s not what we do”, “We don’t have R&D cost centres so we probably don’t do it”, “We have no records of when we have had people working on R&D” or “How much of their time qualifies for R&D tax purposes?” or “Even what is considered as compliant R&D activity?”

This scenario is almost guaranteed to ensure that an incorrect claim is made, with the potential of an enquiry from HMRC resulting in penalties and delays.