RCK Partners become UFU corporate member
Friday, 30 April, 2021
The Ulster Farmers’ Union (UFU) is delighted to reveal their new partnership with RCK Partners, who has become a new corporate member.
RCK Partners are a London based financial consultancy specialising in research and development (R&D) tax credits. They have assembled a team of industry experts including agricultural consultants, agronomists, engineers and research scientists - the majority of whom are Oxbridge or PhD level educated.
James Gibson, RCK commercial partner said, “RCK Partners are pleased to become corporate members of the UFU. We advise on a number of government tax incentives but foremost among them is R&D tax relief. This scheme has been around since 2000 and was devised to encourage limited companies in the UK to innovate. In the eyes of HMRC, R&D is defined as the overcoming of technical challenges and uncertainties and hence this is the focus of the scheme.
“Our agricultural experts work with their clients to identify qualifying R&D projects and put them forward to HMRC in the form of a technical report. They are the most secure provider in the R&D market, boasting a 100 percent success rate.
“We work with farms right across the UK who are incorporated as limited companies including a number of UFU members. Research and development is central to how many farms seek to improve the efficiency of their operations. Efforts to enhance yield, quality of produce, animal welfare and environmental controls can all be classed as R&D, and therefore eligible under the scheme.”
HMRC allow eligible farms to claim back up to 33 percent of their qualifying R&D expenditure (wages, feed and vet bills etc) over the previous two financial years. Analysis from RCK’s existing farming clients shows that 75 percent of them receive in excess of £50k from claiming under the scheme.
All UFU members are entitled to a 30 minute consultation with one of RCK’s experts, at no cost, to assess whether they would be eligible to claim under this valuable scheme. For those who are eligible and wish to proceed, RCK are remunerated as a percentage of the amount claimed, only payable on success.