In Focus Collections
“Can I write you a cheque?”
How working with Bespoke Partnerships has helped BPO to grow – and the opportunity is now open to you!
Graham Rankin Chief executive, BPO Collections graham.rankin @
bpomail.co.uk
We met on a business trip going down to London. We happened to be sitting close to each other on the train and got talking. I have to be honest and say that it was
quite hard for me to take in, at first, when he was talking about research and development (R&D) and how we, as a debt recovery and outsourcing company, might be involved in it. I think that it is a very natural response,
when he has asking “do you want me to write you a cheque”, to be cautious, but the more I looked into it, the more I realised that what he was saying was true.
Appreciating your own innovation The premise is that Bespoke Partnerships came in to our business to explore our ideas, what we had done, and to give us advice on projects that we had done that would qualify to be considered as R&D – but which we probably would never consider to be.
Initially this was a European Union scheme, but it was realised that, although many continental businesses were taking it up, UK businesses were not doing so. So it has now been ring-fenced as a UK project and government has a vested interest in making sure that the funds are used
That was one of the key points for us: like
every business in the industry, we are always working on projects which are innovative, but which we would not really classify as ‘R&D’. Bespoke Partnerships were able to help us to understand that they certainly fit the R&D criteria.
Substantial return for a small investment in time I have to say that we received our payment within four months, and even that was with both our Head of IT and myself being away from the business for part of that time. They provided a pack which was then
forwarded on to our own agency, CATAX, who are approved by HMRC for this. They know what HMRC need, so once the pack is accepted by CATAX, they have a 100% success rate of receiving a payout. The payout can either be taken as a
rebate on future Corporation Tax, or as a slightly reduced benefit in cash. Initially, this was a European Union
scheme, but it was realised that, although many continental businesses were taking it up, UK businesses were not doing so. So it has now been ring-fenced as a UK project and government has a vested interest in making sure that the funds are used. Because it is now a UK scheme, it will not be affected by Brexit.
Our qualifying projects We had a number of qualifying projects, the first being that a client wanted us to show some more information about
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www.CCRMagazine.com October 2018
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