BSA Buying Group has vetted and partnered with a number of trusted professional services providers. Each help to free up cash for your business - GDPR and R&D tax credits, highly competitive rates of foreign exchange and part-time CFO/CIO/HR Directors.
GDPR Tax Credits
Have you paid more than £20,000 Corporation Tax in total in the last 2 years?
Would getting most of that tax back in cash be useful right now?
Would seeing it arrive in your bank account within 6-8 weeks be welcome?
Research has shown that at least 90% of UK companies are GDPR non-compliant even though many think they are. For example, Is your company registered with the Information Commissioner’s Office (ICO)? Millions of UK companies are not.
Now that the PPI Claims bonanza has ended, many of the claim companies and law firms involved in claiming PPI for clients are retraining as they see the next big opportunity is to claim GDPR compensation from companies. If you google ‘GDPR compensation No Win no Fee’ you will find more and more claim firms are popping up, looking for claimants. The media are increasingly reporting GDPR data breaches and the eye watering fines – you may recall British Airways were recently fined £20m for data breaches.
Ideally every company should be preparing a GDPR Compensation claims pot in case of being sued but the reality is that the vast majority don’t and so that protection fund instead ends up expanding the declared gross profits, resulting in more Corporation tax being paid.
We at BSA Buying Group are working with a team led by the former head of data privacy at 3 major banks, who have also advised clients such as Dell, Volvo and Hilton Hotels. They specialise in GDPR Tax Credits and have developed algorithms to calculate the level and value of GDPR claims risk specific to an individual company. Typically, once they understand what a client does to acquire, hold and use data they can put a £ value on that risk; as a result of this they can reclaim up to 2 years Corporation Tax from HMRC for our clients. As of the start of 2021 they had put through over 30 cases and HMRC have approved the full claim in every single case.
The reason why we’ve teamed up with these GDPR specialists is not just because they can generate significant cash for clients within 4-6 weeks. They equally see the importance of companies getting to grips with the GDPR non-compliance once the risk has been quantified. Our partners have developed GDPR expert software which guides the client to reduce future risks of being sued. In addition, a highly effective way of reducing GDPR non-compliance in the workplace is to provide GDPR staff awareness training.
There are no upfront fees for the GDPR Corporation Tax reclaim service (our partners take a slice of the reclaimed tax as their fee) so if you would value an informal chat with our GDPR specialists about your own position and would value both a cash injection and future guidance to mitigate your risk of being sued for GDPR non-compliance, call 0800 254 0344 today.
R&D Tax Credits
As procurement specialists, we understand the importance of cutting costs, boosting profits and increasing your buying power to make more efficient decisions. As part of this investment in your company, there is a high chance you will be undertaking some degree of research and development – and could be eligible for a tax credit or cash refund.
BSA Buying Group has partnered with a specialist firm of tax experts specialising in helping companies to identify R&D within their business and claim R&D Tax Credits.
Additional funding to grow your business
R&D Tax Credits provide a valuable source of funding and can transform future investment decisions into your business, depending on your growth and expansion needs. Despite the UK’s R&D Tax Credit scheme being the most generous of over 30 such tax subsidy schemes around the world, the take-up across UK business has been minimal. This has primarily been due to lack of awareness and misunderstandings - many thousands of companies are missing out on tax credits or cash.
As part of our commitment to supporting BSA clients across their business, we have created an opportunity to help access this potentially business-changing service.
How it works
The process for claiming tax refunds or cash back is straightforward, designed to maximise the benefit to you, without taking up too much time. Typically, you should expect to spend no more than half a day and could receive tax credit or cash within 4-6 weeks of your initial conversation.
Once you submit your details, our partners will:
1. arrange a meeting to explain the service in more detail and confirm if you qualify
2. request financial and project information
3. speak to key staff to extract relevant information about your work
4. produce a technical report and calculate the value of your claim
5. submit the claim to HMRC on your behalf.
Once approved, you will receive your tax credit or cash.
What does it cost?
There is no cost to your business unless the claim is successful – the service is risk-free for your company. Our partners provide a complete end-to-end service, taking care of everything.
You can go back up to 2 financial years, and claim every year going forwards – often resulting in a substantial amount of unexpected cash for a first-time claimant.
Foreign Exchange Rates (Forex)
BSA Buying Group has sourced a multiple award-winning currency specialist to ensure that our clients enjoy the very best value when making international payment transfers.
Whether its making business payments, a one off payment, moving overseas, buying or selling property or repatriating salary – accessing BSA Buying Group's partner supplier network will help you find the right solution for your needs.
- Highly competitive exchange rates – heavily discounted charges reduced even further thanks to BSA Buying Group's buying power that could save you money compared to your bank, with no hidden fees or charges.
- Award-winning service – dedicated service from their Account Management Team plus free rate alert service.
- Quicker payments – arrange transfers online 24/7 with access to the fast available international payments.You can also set up payments to be made automatically.
- Safe and secure – our partner is FCA regulated and maintains high levels of capital and takes all necessary steps to safeguard your money.
- A range of products - spot contracts (the best exchange rate on the day) and forward contracts (to fix a rate for up to 3 years ahead, regardless of exchange rate movements).
- No contractual lock-in.
Part time HR Manager/Director
Expanding the professional services we are able to offer to our clients, we’ve carefully chosen an HR provider specialising in tailored HR advice and support for SMEs. Our partner has been working with small and medium sized businesses in the UK for 12 years, offering a range of services from retained advice to ad hoc support and projects.
Their clients always get their own dedicated consultant who works with them to develop a good understanding of the business and tailor advice to best meet the needs of the client.
Rather than a restrictive, one-size-fits-all approach, our recommended HR provider believes in finding pragmatic and realistic solutions to help small business owners get things done quickly, solve their problems in a practical way and enable them to feel free to develop their business in the way they want to.
As always, BSA have negotiated a significant package of extra resources exclusively available for clients who work with our new HR partner.
Part-time Finance Director
Through our professional services network, we've teamed up with the UK's number one source of part-time FDs. They make it possible and practical for SMEs to take on one of the UK's leading Finance Directors on a part-time basis for a fraction of the cost of a full-time FD.
They use a unique 12 Box Architecture to review every aspect of your current company finance function to include your current and future requirements. This approach means that they dig deep at the start of any new client relationship with the aim of identifying every problem area and getting everything out on the table. This helps the business owner and senior team to de-clutter all the issues and emerge with a clear roadmap and a top quality part-time FD to manage the implementation of the plan.
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If you would like us to introduce you to this opportunity, please complete the enquiry form on this page and we'll get one of the UK's top FDs to give you a call without obligation.
Part-time IT Director
Clients of BSA Buying Group can now also tap into our partnership with the UK's largest provider of part time IT Directors. As with the FD outsourcing service (above), only the highest calibre people are offered, all helping your business to accelerate its growth at a fraction of the cost of employing a full-time Director.
How do I engage with these Professional Service benefits?
The negative impact to your company's health of getting the wrong professional service provider could be significant so please don't leave it to chance - get in touch. Call us today (0800 254 0344) or submit the enquiry form (right hand side of this page) and we'll call you back to discuss your individual requirements and how we can support you.