One of the best ways to understand how beneficial R&D Tax Credits can be for your business is to hear about other company’s experiences with the scheme. This is a great way to learn how R&D Tax Relief translates into real financial value and transforms the trajectory of innovative businesses!
So we’re going to share another success story, this time following GameBake’s experience with our R&D Tax Credit service.
Co-Founder and CFO of GameBake, Rocky Grant, kindly spoke with us to share the benefits of filing R&D Tax Credits with Claim Capital and recount his overall experience with the UK’s most generous tax incentive scheme.
An introduction to GameBake
GameBake is a game distribution platform that provides end-to-end distribution, monetisation and marketing solutions for all games. Developers and publishers that use GameBake’s innovative platform are able to access the infrastructure they need to immediately reach and monetise exciting global gaming markets.
Like most companies reliant on technology, GameBake is an example of a business that is eligible for R&D Tax Relief – having incurred costs in areas of ‘qualifying R&D expenditure’.
What led Gamebake to file their R&D claim with Claim Capital?
Much like our ethos at Claim Capital, Rocky and the team felt that the 10-20% commission-based fee that other R&D Tax Advisors charge seemed unjustified, particularly as the size of average R&D claims increase 37% year-on-year.
We often find that businesses working with a percentage-based advisor leads to claimants paying much more than they need to for successful R&D Tax Credit claims.
When asked why he engaged Claim Capital for GameBake’s R&D claim, Rocky explained that: “One of the strongest selling points was that a lot of your competitors charge crazy percentages of your R&D tax benefit to complete the claim. When Max pointed out that Claim Capital charges a fixed fee, it made a lot more sense for us a business and of naturally saved us a lot of money.”
How did GameBake reinvest their R&D Tax Credit benefit, and how did you find the overall claim process?
Rocky told us that their R&D claim benefit has been instrumental in maintaining the growth of their team and alleviating the pressure of crucial staff costs: “At the moment, a large percentage of our expenses are allocated to staff costs and contractors, so the money from our R&D claim is going to be reinvested into our team.”
A reservation sometimes held by founders that haven’t claimed R&D Tax Credits is that it might take their time away from running their business. We were pleased to hear that Rocky found this to be totally untrue.
He shared how, after a concise technical call with his appointed R&D Tax Specialist, he was able to offload the entire R&D Tax Credit claim and maintain full focus on growing GameBake: “My experience with Claim Capital is that everyone works at lightning speed, but to a very high standard. I’m always happy to recommend you guys.”
What advice would GameBake give to companies who aren’t yet claiming R&D Tax Credits?
Rocky advises all innovative and tech-intensive businesses to explore their potential to claim R&D Tax Credits. Drawing from his experience of claiming, he argued that companies should consider “keeping a record of their activity and expenditure to make it easy to sit down with an R&D Tax Advisor and learn whether they can file an R&D claim, and what the return might look like.”
Rocky went on to vouch for Claim Capital’s end-to-end R&D Tax Credit service: “I’ve referred several other companies to Claim Capital already. Your Director, Max, is always my recommended point of contact for businesses looking to claim R&D Tax Credits.”