Tax and innovation specialist Breakthrough Group has been shortlisted for Best New Tax Practice and Best Independent Consultancy Firm in Tolley’s Taxation Awards 2018, which have served as marks of excellence in the tax sector for 17 years.
Based in Ashford, Breakthrough Group is a social impact business that aims to champion and promote innovation in UK industry. The Group’s revenue-generating arm, Breakthrough Funding, was established in 2015 to help SMEs claim R&D tax relief from the Government in recognition of their innovative work.
Breakthrough Group is one of just four companies nationwide to be shortlisted in each category. Chosen by an impressive panel of tax experts, the winners will be announced at the awards ceremony in London on 17 May.
By 31 December 2017, Breakthrough Funding had helped clients to claim a total of £40million in cash or tax relief – vital financial support that has enabled businesses to achieve their ambitions and create 150 new jobs. As the UK strives to sharpen its competitive edge in tough global markets, this work has made a significant contribution to the future of British innovation.
CEO and founder Sue Nelson said: “We’ve been quietly disrupting tax relief for the last three years, using innovative branding and routes to market not seen amid the other staid tax companies. We want the average small business owner to understand this complex niche area, so we don’t use jargon and we make our services look deceptively simple. It’s so gratifying that the hugely respected Tolley’s Taxation Awards has recognised the quality and professionalism of our 20-strong team. We honestly couldn’t be more thrilled.”
Margaret Connolly is a tax and strategic business advisor who has recently joined Breakthrough Group’s advisory board. Having been one of the first UK accountants to file an R&D tax credit claim, she is delighted that the Group’s important work has been recognised.
“The Breakthrough Funding team really know this scheme inside-out and I think what the company is doing is restoring public confidence in the tax system,” Margaret said. “By working to raise the profile of R&D tax credits, we can ensure that no innovative businesses miss out on the Government help that they so richly deserve.”
Comprising a number of projects that support the country’s most brilliantly inventive SMEs, the Group’s motto is ‘profit for purpose’ – in 2016, the company put 41% of its profits back into social impact activities and last year this figure rose to 52%.
Alongside the work of Breakthrough Funding, the Group offers valuable exposure to innovative SMEs through a number of projects, including:
- Two weekly radio shows – The FoodTalk Show and The TechTalk Show
- Breakthrough Magazine – a quarterly publication showcasing innovation in UK manufacturing and engineering
- The FoodTalk Awards – launched in 2017 to celebrate the country’s best foodtech businesses
- FoodTech UK – a book written by Sue Nelson to raise awareness of the sector and encourage investment in UK foodtech
- Breakthrough Women – a regular series of networking events to inspire and support women in business