With over £1 million saved in R&D Tax Relief combined with expert advice and help with grant audits and accounts, our team have assisted Fusion Processing to realise their strategy for success and continued growth.
Fusion Processing Ltd, head quartered in Bristol, came to Randall & Payne over a decade ago for assistance with accounts and Corporation Tax after becoming incorporated in 2012.
It was quickly identified that the cutting-edge vehicle automation technology they were working on would qualify for R&D Tax Relief. As most projects were funded by government grants, the R&D claims required careful management by our corporate tax specialist James Geary, to ensure the varying projects were included under the correct relief scheme.
Our audit team subsequently became involved, independently reviewing the grant claim submissions, as required by the terms of the funding agreements. Ben Burch and his team provide timely compliance support which is essential to enable Fusion to access funding to continue pursuing innovation and development.
It is important to have a reliable partner that delivers on their commitments on time and on budget. We can deliver a seamless process due to the flexibility of our document exchange and communications systems, which work well for both parties.
Andy Sweet in our accounting services team ensures the accounts are compliant, working with James and Ben to progress work in a timely manner, meeting deadlines required for the R&D claims so that Fusion receive their grants and tax rebates to be able to continue their cutting-edge work.
Over the years, James has provided relevant tax advice such as the consideration of employee share schemes, investment tax reliefs and Patent Box.
We are proud to have helped Fusion claim over £1.1 million in R&D tax relief which has been crucial for them to be able to continue their progress at the forefront of autonomous vehicle development.
After starting the business in 2013, our pioneering work in vehicle automation systems very quickly gained eligibility for government grants. When our initial accountants could not deliver the independent assessment work on the grant claims quickly enough for our requirements, we approached Randall & Payne and have received regular and timely support for our grant audits ever since.
After appointing them as our company accountants, we were also pleased to discover they were also able to look after our R&D Tax Relief claims.
As a result, over the last twelve years, we have benefited from significant R&D support and efficient accounting services from Randall & Payne, who have been supportive, responsive and proactive as the business and technology has flourished.
We thoroughly recommend the firm and we are excited about our future as we seek to scale-up the company using equity funding, with Randall & Payne as our company accountants.
Jim Hutchinson, CEO, Fusion Processing Ltd
