Icing on the cake for Scottish Bakers as Jumpstart makes them plenty of dough
Have you considered how to maximise the opportunities presented by R&D tax relief?
The Killie Pie is a tasty Scottish treat, but not half as tasty as the near £500,000 tax consultants Jumpstart has served up for Scottish bakers – including the makers of Rugby Park's famous half-time delicacy.
Jumpstart, the UK's leading research and development (R&D) tax relief specialist, has been working in partnership with Scottish Bakers, the voice of the baking industry, since 2010, and has helped member companies gain £444,000 in valuable reliefs. It has also identified more than £2m in eligible spend.
Now the Edinburgh-based company is turning its attention to English-based bakers, to bring its unique blend of technological and business expertise to bear south of the border.
For the past four years, Jumpstart has been educating members of Scottish Bakers on the potential benefits of R&D tax relief, helping them understand what is eligible, identifying eligible companies and assisting them to submit compliant claims.
Those who have seen significant gains include Brownings the Bakers, of Kilmarnock, which was established in 1945 and has grown to become the largest craft bakery in the West of Scotland. Its signature Killie pie, sold at Kilmarnock FC's ground, has won a string of awards.
John Gall, managing director of Brownings, says: ‘Until we started using the Scottish Bakers service provided by Jumpstart, we didn’t realise that the R&D tax relief scheme even existed. We subsequently have told many bakers in the industry about the missed opportunities.
‘Bakers conduct projects all the time that are eligible under the scheme and when we got the tax refund we were extremely delighted and surprised.’
Other bakers who have benefited under the Jumpstart-Scottish Bakers initiative include the Bell Food Group of Shotts, makers of the famous Bells steak pie; Calder Millerfield of Glasgow, Best Steak Pie winner in 2012; The Kindness Bakery, a traditional craft bakery in Aberdeenshire; and Ingram Brothers, the bakery ingredients manufacturer from Paisley.
Ronnie Miles, finance director at Bells Food Group, says: ‘We should have done this sooner. The money we received was well worth the effort and if I calculated the hourly rate based on the money we received it was time well spent. My board of directors reckon it’s the most financially productive I’ve been for 22 years.’
Cameron Kyle, technical director at Calder Millerfield, says: ‘As a business, we were unsure how many of our projects would potentially qualify. However, most surprisingly, we learned that a “failure” was one of the best projects for eligibility, since it demonstrates that research is being carried out.’
Both Jumpstart and Scottish Bakers are now poised to move toward helping English-based bakers, enlisting the help of the Craft Bakers Association, an English trade association with more than 600 members.
A London based baker, dating back nearly 150 years, with 92 employees and 600 product lines hopes to be the first to reap the benefits of this new initiative.
Brian Williamson, managing director of Jumpstart, says: ‘This illustrates that R&D tax relief is relevant across a wide range of sectors, and not confined to science or technology-based enterprises.
‘Scottish Bakers has worked very closely with us over recent years and the results are really starting to show. We will soon take our offering to bakers in the rest of the UK and that will be the icing on the cake.’
For further information about Jumpstart, contact Brian Williamson, managing director at Jumpstart at: