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.
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.
Follow NETPark On Social Media
Keep up to date with the latest NETPark news and events.
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.
We provide companies with access to a focused and international community where talent flourishes, ideas are generated and businesses have the support and resources to compete with the best in the world.
NETPark North East Technology Park
NETPark, North East Technology Park,
Sedgefield, County Durham TS21 3FD
Call Us: (+44) 01740 625250
Email: enquiries@northeasttechnologypark.com
Web: northeasttechnologypark.com
It fits perfectly for us that we’re surrounded by like-minded companies at NETPark. There are a number of highly skilled people in the area who can help us grow our business. The facilities and services offered by NETPark are first class, they make office life simple and engaging.
The quality of the facilities at NETPark and the attitude of staff is first class. It has a really dynamic, innovative atmosphere.
CPI has developed a specialist offering to support SMEs looking to develop their printable electronics applications and our partnership with Business Durham has been instrumental in attracting several SMEs to locate here in the region.
Access to quality facilities was one of the main drivers for deciding to locate the business at the NETPark. We have been able to use this as a launch pad to link into support from CPI and world-class expertise from Durham University.
We initially came because of the printable electronics centre but access to a highly skilled semi conductor workforce in the North East has been a key factor in us staying and growing here, as well as the value for money office space and the access to funding.
The proximity to the universities and the infrastructure are very important factors. Ultimately having a presence in Europe is very valuable to us and we intend to stay at NETPark for many years to come.