Innovation talk led to a £37k tax saving

A SOFTWARE company saved more than £37,000 after learning about research and development tax credits at an innovation talk hosted by Business Durham.

Quorum Development Ltd based here at NETPark learnt how they could apply for the tax saving initiative at the event, one of many talks hosted by Business Durham, the business support service for Durham County Council, who manage NETPark.

The software firm, which supplies expert advice, software and services to organisations across the world, learned about the talk from Janet Todd, NETPark’s manager.

Said Janet: “We arrange regular innovation talks and they always focus around a specific topic. It was fantastic to see Quorum receive their research and development tax credits as a result of one of them. Companies often don’t realise they’re entitled to claim them, but it can make quite a sizeable difference, as Quorum has shown.

“We have an excellent relationship with all of the companies at NETPark and work closely with them from the initial enquiry stage onwards. We know, for example, that Quorum will be looking to expand and we’ll be here for them with our tailored advice and support when they want to grow into bigger space.”

Paul Usher, commercial director at Quorum, said: “It was a revelation to find after attending the innovation talk that we could successfully put a claim in.

“NETPark has been a great place for us. The location is great for our clients who fly into Newcastle Airport and the staff at Business Durham have been fantastic and have done everything they can to make the business run better – whether it’s putting on the innovation breakfasts or finding more space.”

The monthly Innovation Breakfasts take place on the first Tuesday each month and focus on a different theme each time. Find out more on our events pages.

Quorum Development Ltd based at NETPark

It was a revelation to find after attending the innovation talk that we could successfully put a claim in for R&D tax credits.

Paul Usher, commercial director at Quorum.

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The North East Technology Park provides a dynamic and supportive environment to accelerate the growth of ambitious, innovative, high tech companies into global markets. NETPark encourages collaborative multidisciplinary links, driving innovation, enterprise and economic prosperity.
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Dr Neil Loxley, - Chief executive, IBEX

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