Haverhill-based R&D tax credits consultancy Fiscale to open third office

Members of the team at Fiscale during a recent company celebration at the Baythorne Hall cookery sch

Members of the team at Fiscale during a recent company celebration at the Baythorne Hall cookery school where they were treated to a day of Indian cooking under the guidance of chef, author and Master Chef finalist Saira Hamilton. Picture: Fiscale - Credit: Archant

A fast-growing consultancy which helps businesses claim research and development (R&D) tax credits is to open another new office.

Fiscale, which was established in Haverhill in 2014 by executive chairman John Mayhew and technical director Stephen Bunting, has already expanded its workforce from two to 21 and grown its customer base from zero to more than 170, with an annual turnover of £1.3m.

The firm opened a second office earlier this year, in Stoke-on-Trent, and a third is now due to follow later this autumn, in Kent.

Mr Bunting said that, despite R&D tax credits having been around for 17 as an incentive for business investment, awareness of the scheme remained low.

“Even businesses who have heard of R&D tax credits are not convinced that they are undertaking R&D or are concerned about having anything more to do with the taxman than is absolutely necessary,” he added.

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“We are slowly breaking down the myths that shroud this beneficial incentive. We have now reclaimed over £12m of Corporation Tax benefits for our clients, most of it in cash. The average first year claim value is in the region of £67,000, which is a significant injection into any cash flow.”

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