1. Innovation The Key to Supercharging the Digital Economy
Terry Toms
RandDTax

2. The Key is the Key to the MINT

3. The Key has many Facets – could include:
Innovative Technology
Innovative Product / System / software / integration design
Innovative Services Model
Innovation Business or/and financing Model
Innovative Operational, admin etc. Model
Innovative manufacturing Model, etc.
Innovative Marketing
Innovative Selling / channels to Market etc
Corporate Social Responsibility (eg Help to close Digital Divide)
Get any wrong, the Golden eggs are not produced.
Picture of same as last slide, with no golden eggs appearing.

4. “Key to The Mint” by John Skeaping
70 Miles an hour on two fingers and two toes

5. “Accelerating Company Growth –a Practical Guide for CEOs”
By Brendan Dowling

6. IBM and the great Wall in Education
IBelephant
IBM and the great Wall in Education
An example of selling the sizzle very well, when the sausages are very average or even well below average

7. BURRnoceros
Burroughs – great hardware, too/very confident, weaknesses with software.

8. “Lets his loyalty be a lesson to us all.”
Greyfriars OliBobby
“Lets his loyalty be a lesson to us all.”
Olivetti – some good hardware but some great software.  Seen as minnows in the real computer world

9. Conclusions
Perceptions are much more important than reality in the Technology markets – and probably in every other market – but the reality can seriously screw you up – Examples – Samsung, VW and Apple.

10. R & D Tax Credits for SMEs
The Pure Gold Eggs that are worth between about 20% and 33% of R & D Costs 
R & D Tax Credits for SMEs
R & D Tax – Pure Gold
Get any wrong, the Golden eggs are not produced.
Picture of same as last slide, with no golden eggs appearing.
Source: HMRC / National Statistics - Research and Development Tax Credits Statistics September 2016

11. Source: HMRC / National Statistics - Research and Development Tax Credits Statistics September 2016

12. Number of claims received for R&D tax credits by scheme, 2000-01 to 2014-15  
Source: HMRC / National Statistics - Research and Development Tax Credits Statistics September 2016

13. Some numbers from RandDTax and existing business model
RandDTax Founded September 2012, successor to Terry Toms Ltd, which advised on R&D Tax Credits since 2002.
Turnover to August 2016, £2.79 m.  No employees.  C30 Consultants/Specialists providing services.  All trained and quality controlled by RandDTax.  Just over 700 clients have now benefitted by over £47m in 4 years to 31st August 2016.  In September 2016 we prepared 58 Claims covering 73 accounting periods worth c £2.7m for clients.
We are currently reviewing our business model and strategy to offer tailored, rather than “one size fits all”, including extensive use of digital technology to reduce our cost base further.  The current cost base has only c10% of Income as fixed and variable overheads, enabling 90% of income to be paid to Consultants, specialists, Directors and shareholders.  Our aim is to provide best value and best quality for clients in the sector and best place to work.      

14. Situations where we can help
New Claimants where R&D has not been previously carried out or recognised.
Existing claimant where they want to be sure they are claiming all they are entitled to claim and only what they are entitled to claim. Typically companies say “ We have it all under control”.. We often find that they do not.
Existing claimants where HMRC have instigated enquiries into new or previous claims or both.
Situations where companies are using other R&D Tax consultancies and want to compare service levels and/or costs.
We offer a free audit on previous claims where there is still time for amendments.
Where an Accountant is bidding to new clients and wants to demonstrate an expertise in R&D Tax Credits.

15. Present “Doughnut” Organisation
RandDTax responsible for:
Marketing
Customer invoicing
Template Contracts
PI Insurance
Compliance (AML, TJ QA, calculations)
HMRC liaison (Committee)
Corporate-level accountants
Training
Expertise*
Consultant Companies responsible for:
Sales, contracts
Contact marketing
Customer marketing
Customer education
Claims preparation
Costs preparation
Accountant liaison
Validate calculations
Invoice management
Referrer management
Training
Expertise*
Dough
Consultant Limited Co.
Consultant Limited Co.
RandDTax
Consultant
Terry Toms clients
Consultant
Ghost Occasional billings
Consultant
Consultant
Growing <£50k, but regular income
Mature
£50k+

16. Presentation for Accountancy Practises
Tel
R&D Tax Relief
Presentation for Accountancy Practises