Markel Tax has been providing specialist tax and funding consultancy services since 1996.
As Bionow’s Preferred Partner for R&D and Grant Funding solutions, Markel Tax’s aim is to ensure that Bionow Members are fully supported with regard to Grant Funding, R&D Tax Relief and Patent Box to maximise government initiatives for the past, present and future. As these three distinct government initiatives go hand in hand, Markel Tax has set up a multi-disciplinary team of chartered tax advisers, accountants, grant writers, PhD technologists, and patent attorneys who seamlessly work together.
R&D Tax Relief
R&D tax relief and tax credits are still among the most under-claimed tax incentives currently available. Markel Tax will ensure that you have maximised your R&D tax credits by either reviewing what you have already done or simply claiming the relief on your behalf. Claims can be made for the past two accounting periods which can often result in a significant repayment of corporation tax.
The first step is a 10-minute pre-qualification assessment over the phone to ensure that you are maximising this relief. No charges will be incurred unless a successful claim is made and Bionow members benefit from a 20% discount on our usual fees.
Grant Funding
There is a range of government grants in the UK and Europe. Navigating your way through this minefield is time-consuming and although you may have experience in writing grant applications, using a third party who specialises in this area will increase your chances of success. Markel Tax has extensive experience in winning grants from numerous schemes for many companies and is proud of its high success rate.
As a first step, Markel Tax will carry out a search to find the appropriate funding free of charge. Then, if you wish to go ahead, its specialist team will write the grant application on your behalf.
In addition to all of this, the fees cover the overall management of the contract negotiation process, taking on the paperwork burden that is always associated with the award of a public funded grant. Once the project has commenced, the team will provide project support throughout the duration of the project.
Depending on the nature and size of the grant, Markel Tax usually charges a nominal upfront fee as most applications can take 2-4 weeks to write. On approval, a 10% win fee will subsequently be charged. Bionow members receive a 10% discount on both the upfront fees and the win fees.
If the first application is unsuccessful, Markel Tax will re-write and re-submit the application to the same or a different funding body free of charge.
Patent Application Patent Box Relief (Future)
Since 1 April 2013, companies have been able to elect for a reduced rate of UK corporation tax. The reduced rate is 10% which has been phased in gradually over a five-year period applying in full from 1 April 2017. The 10% rate of corporation tax is applicable to products and services that incorporate patented inventions as long as the company owns or has an exclusive license to exploit the patent and meets certain development criteria.
To allow businesses to take advantage of the Patent Box as early as possible, Markel Tax has developed a simplified, fixed-fee approach to obtaining UK patents before applying for the patent box relief. Markel Tax was one of the first advisers in the UK to claim Patent Box tax relief and have been at the forefront of this legislation ever since.
The first step is for the Patent Box tax specialist to undertake an initial pre-qualification assessment which is usually done over the phone to help identify your needs and discuss how the Patent Box can be used to reduce your corporation tax liability.
The initial consultation is free and Bionow members receive a 20% discount on both the fixed-fee patent application fees (if required) and the patent box claim fees.
Bionow Member Offer
Markel Tax is also offering all Bionow members a confidential, no obligation review to ensure you are maximising all available tax opportunities.