Nutmeg

Find out how Nutmeg was able to optimise their previous claim by 400% with Leyton.

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Damian Walsh, Head of Financial Control and CMA, Nutmeg

Leyton was very professional. When we first met they took the time to get under the skin of our business and it was clear that they had a lot of background knowledge about the industry. As part of the work undertaken on our initial engagement at the end of 2019 we reviewed the previous
claim for the 2017 tax year. Leyton worked with us and in the space of only a few weeks we submitted an amended claim for which we received four or five times the amount. Knowing this we should have claimed with Leyton a lot earlier!

About the business

Nutmeg is the largest UK digital wealth manager. Their proposition has a broad appeal across a varied section of society, attracting first-time investors through to sophisticated, experienced investors who are looking for a genuine alternative to the status quo. The company uses innovative technology to transform the wealth management industry and invests significantly in products and technology to deliver new features and benefits to customers.

You had previously claimed R&D Tax Credits before working with Leyton, what are the key differences you have found compared to your past claims?

During the claims process in the past, we mainly dealt with accountants who, while good when it came to calculating the claim, did not have the expertise to understand the technical aspects of our business and what research and development work may or may not qualify as R&D.

Leyton’s consultants had the technical expertise to uncover all the qualifying activity, I felt that our Consultant really understood what HMRC were looking for and had the industry knowledge to make the process as seamless as possible. By having that knowledge from Leyton we were able reduce the amount of time required by our engineering and product teams, which was a massive saving as well as being able to optimise our claim.

Innovation

Nutmeg has carried out qualifying R&D activity in a number of areas, including in the development of an event-driven architecture, data extraction and aggregation and enhancing the use of mobile applications. Having previously claimed R&D Tax Credits through a third party, Nutmeg has worked with Leyton on their R&D Tax Claim for the last three years.

Working with Leyton

“There was a bit of back and forth the first time we claimed with Leyton, but for the most part it was excellent. This was to be expected as this was the first time, we had worked with them and they were getting to know our business but overall the number of revisions was minimal. It was great the process was so smooth because our teams are very busy. Leyton’s team took all the work out of it for us and we were happy with end result.”
– Damian Walsh, Head of Financial Control and CMA, Nutmeg

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