Herefordshire and Worcestershire Chamber of Commerce’s Women’s Business Forum opened up a wonderful opportunity for technical translations agency, Balthasar Ltd, when they met MSC Associates.
Balthasar’s Managing Director, Heike Held, met Carla Hollis from MSC Associates
at the event held at Thorne Widgery in Hereford in December 2015. MSC Associates is a company dedicated to helping businesses claim back tax relief for the time and money spent on Research and Development, and both parties soon realised that the in-house project management system designed by the Balthasar IT team could well qualify for a tax rebate.
ecialises in technical translations for industry. As part of its ongoing strategy to remain competitive it had invested heavily in the development of an online ordering system which dovetailed with project management, accounts software and state of the art computer assisted translation tools. Customers benefit from smooth project management and transparent charges, as well as high quality translations and consistent use of agreed terminology – in every required language. It had never occurred to the Balthasar team that they might be eligible for a tax rebate for some of the time and effort spent on this system’s development.
Managing Director of Balthasar, Heike Held and Julie Baldus, Director, receiving the tax rebate letter
The team at MSC were extremely helpful: Director Mick Merrick arranged to visit the Balthasar offices in Ross-on-Wye and determined that Balthasar had a claim to make. Mick asked for information concerning the number of staff involved in the R&D process, the time each member spent on the project and details about salaries so that a calculation could be made as to the financial cost to the company of this research.
During the second visit, detailed technical questions were posed to the team involved in the R&D by Mick Merrick and Steve Crooks (MSC Directors) who looked at the software and ascertained how and why it was novel and what technological difficulties had to be overcome. The assessment went very well with the team from MSC feeling very confident that Balthasar had met the R&D Tax Relief criteria and would qualify for a tax rebate. MSC produced a detailed technical report and supporting financial statements (effectively a business case) and submitted this to HMRC.
Within just a few weeks, Balthasar was informed by MSC that the claim had been successful. Balthasar received a substantial rebate that has enabled them to upgrade their server and data storage capacity two years ahead of the planned schedule. For Balthasar, the result has enabled them to improve the service they offer to their customers all over Europe and the UK.
MSC Associates are a Hereford based firm that specialise in R&D Tax Relief. They are experts in their field with an enviable track record, having delivered tax savings in excess of £5M for their clients. To find out more about R&D Tax Relief please contact Carla Hollis at Carla@mscassociates.co.uk
or on 07738 698037.