A winning combination
Within two years of starting Fiscale Ltd, a specialist Research and Development (R&D) Tax Credit consultancy, Directors John Mayhew and Stephen Bunting are enjoying significant growth and success. The Haverhill based company was established in February 2014 and within just eight months had exceeded the initial business plan forecasts for the year and doubled the size of the team.
Fast forward to 2016 and the success continues with an expanding client base; over £4.1 million of R&D Tax Credit relief reclaimed for their clients, mostly in cash, with an average first year claim value of £67,000; a 100% claim success rate and three new members of staff recruited within the first quarter of the year.
Fiscale's Executive Chairman John Mayhew explains,
“I had actually retired when I took the decision to start the new business with Stephen. We both recognised that there was a need for a specialist R&D Tax Consultancy in East Anglia and were confident that the business idea was sound.”
“It has exceeded our expectations. We are creating opportunities for the clients we work with, assisting them to gain access to what is effectively free money from HM Revenue & Customs.”
“We are also creating employment opportunities. We have recruited a further six members of staff since we started in 2014 and many of our clients have used the R&D Tax Credit relief to increase their workforce. We have had to take on additional office space at the Menta Business Centre in order to accommodate our growing team. It’s a win-win for everyone and beats retirement!”
Jonathan Hayes was appointed as Business Development Manager in January. Jonathan is responsible for securing new business and increasing the Fiscale client portfolio. Jonathan worked for his last company for 11 years in a sales and business development role. Jonathan comments,
"It's an exciting time to be joining Fiscale. I'm looking forward to getting out and about locally, raising awareness of the R&D Tax Credit initiative and gaining new business for Fiscale. The job role is a natural progression for my career and I am enjoying being part of the very professional and highly motivated team."
Joseph Webster-Davids and Charlotte King have joined Fiscale as Claims Administrators and are both doing apprenticeships. Joseph, attended Joyce Frankland Academy, formerly Newport Free Grammar School, and completed his A Levels in Mixed Science, Business, History and Physical Education in July 2015. Joseph wanted to work in the field of accountancy, particularly Tax accountancy, so was keen to make a positive impression when the job opportunity came up with Fiscale.
Joseph will be continuing his education undertaking a Level 4 Association of Taxation Technicians (ATT) qualification. His long term ambition is to become a Chartered Tax Advisor.Charlotte is the youngest member of the Fiscale team. An ex Castle Manor Academy student, from Kedington, Charlotte is doing an NVQ Level 2 in Business and Administration through Cambridge Regional College. Charlotte explains,
“This is my first proper job since leaving school after doing my GCSE O Levels last summer. I am happy to be given this opportunity and to continue my education.”