SPRK Capital

SPRK Capital

Our partners, SPRK Capital lend to UK businesses engaged in innovation. Working with British Business Bank and Innovate UK’s Invest Partnership programme, to support them with their R&D tax credits in advance of the payment being made by HMRC.

SPRK Capital addresses these challenges by delivering quick, transparent, and dependable financial solutions through non-dilutive funding. RCK have partnered with SPRK Capital to support SMEs as they continue to grow and innovate.   

SPRK Capital, are a leading provider of non-dilutive funding for UK businesses investing in innovation. Their services seamlessly complement our R&D tax advice and claim preparation, delivering a comprehensive, end-to-end solution, for our collective clients, when claiming R&D tax relief.  

SPRK Capital

SPRK R&D Loans:  

For UK SMEs eligible for HMRC R&D Tax Credits, SPRK R&D Advance Funding can accelerate access to these credits up to 18 months earlier, providing essential funding exactly when it is needed. The Advance Funding can boost cash flow by drawing up to 80% of estimated tax credit against incurred expenditure, giving SMEs the opportunity to make their capital go further, gain better control and certainty over financial planning, and reinvest into R&D for future growth and innovation.  

HMRC considers R&D to be being carried out if you are a limited company.

The benefits:

  • Cash flow is king when you’re starting out or growing a business. Taking it to the next level requires vision, courage, hard work and most of all, working capital. A SPRK R&D Advance is a strategic option to keeping cash flow healthy, leaning on expected credits early rather than seeking external dilutive funding options.
  • Keep control of your business at all stages of your journey. Too often founders and entrepreneurs have to accept investor capital in the early stages of business development or in growth cycles. This dilutes ownership and means handing over control of your business unecessarily. SPRK is the clever alternative to this dilutionary capital, and it allows you stay in control of your business.   
  • Easy and convenient online process for business leaders. Having worked with businesses of all sizes across multiple markets, SPRK appreciates the value of time for business leaders and has developed a frictionless and cost-effective online platform to make accessing a SPRK R&D Advance an easy and convenient experience. Funding can be received within 48 hours of applications being approved.  

SPRK R&D Advance

  • Access your credit sooner with no fees paid upfront
  • Boost cash flow by advancing up to 80% of your estimated tax credit
  • Lending against your incurred expenditure
  • Stretch your R&D budget and your tax credit further
  • Low-Cost Establishment fee of only 2.5%
  • Interest rate of only 1.33% per month
  • Zero early repayment fees

Eligibility:

  • £100,000 minimum claim size
  • No overdue PAYE/VAT or willing to settle from the SPRK Advance
  • Minimum 3 months cash runway at time of application
  • Cashflow not contingent on unconfirmed capital raises
  • Ability to grant first ranking security on the company

Our Partnership 

RCK are a trusted, SPRK approved, R&D advisor meaning that all R&D claims prepared by RCK are thorough, accurate, and fully compliant, therefore, making a SPRK advance even more valuable. With our deep knowledge of the R&D tax landscape, and SPRKs efficient funding model, companies will be supported in navigating the R&D tax credits claim process confidently.  

"SPRK is pleased to announce our partnership with RCK, helping their clients with access to R&D funding to support UK innovation."
- Dom Peasley, CEO at SPRK Capital.

“The partnership with SPRK enables us to better serve our clients, especially those who would benefit from accessing their R&D credit earlier than it is paid out providing certainty to their cashflows.”
– James Gibson, CEO at RCK Partners.

Speak to us today

Compliance

Each claim RCK submit to HMRC is reviewed by our independent, in-house compliance and review team.

This team is comprised of former HMRC R&D inspectors, lawyers, tax advisers and accountants.

RCK Compliance

The compliance team exists to protect our clients and colleagues by ensuring that the work that RCK produce is fair, correct, and well-evidenced. At RCK we take responsibility for the review process, as well as acting as a hub for tax-technical expertise and dealing with any correspondence with the tax authorities. Our compliance and review team has been made totally independent of our delivery team, as opposed to a more common peer review process.

The team scrutinise each claim with the tax inspector mindset before it goes out – so we have all the answers to the questions HMRC might ask. Not only does this reduce the risk of enquiry, but it makes dealing with those that do arise much more efficient.

Reviews take place at the submission stage when written evidence of R&D is drafted, the financial assessment has been calculated, and the complete submission package has been finalised. We also have a daily check up with our consultants to make sure nothing slips through the gaps.

Compliance in R&D Tax

The Importance of Compliance When Claiming R&D Tax Relief

Former HMRC R&D Compliance Officer and current RCK HMRC Liaison, Alex Marshall, shares his insight on how compliance is everything when claiming R&D tax relief. Compliance within the R&D tax relief scheme has never been more important, with the results of HMRC’s Mandatory Random Enquiry Programme (MREP), outlining greater levels of error and fraud than previously expected, resulting in a major overhaul in activity to tackle non-compliance. But how did we get here?

Read Here

RCK's Compliance Team

Picture of Chris Johnson

Sophie Spells

Head of Legal, Data and Compliance and General Counsel (Partner)

Sophie’s legal career has spanned over 13 years. Prior to joining RCK she has spent the last seven years leading an in-house legal, data and compliance team at a top law firm. Her experience incorporates all things legal (contracts/ litigation/ corporate), data protection, procurement, costs challenges, funding, compliance and dispute resolution. Prior to this, she worked in private practice in asset finance at Norton Rose, specialising in Shipping and Aviation Finance.

In her roles as both General Counsel and Head of Legal, Data and Compliance, Sophie safeguards the business by ensuring the adoption of best-practice principles in all areas of corporate governance and departmental procedure. With her wealth of legal, data and compliance knowledge she is consistently tightening RCK’s security which is consistent with RCK’s adopted mission to be the safest and most security-conscious provider of services in our industry.
Picture of Chris Johnson

Eli Gottlieb (ATT & CTA)

Head of Risk and Compliance

Eli is an experienced Chartered Tax Adviser (both ATT & CTA qualified) with nearly ten years of expertise in various areas of tax. His career includes working in Private Client Tax at Smith & Williamson (now Evelyn Partners) and Tax Dispute Resolution at BDO. Eli excels as a resilient problem-solver with a keen interest in helping clients navigate and resolve complex tax disputes. As Head of Risk & Compliance, Eli leads the Compliance Team, ensuring all claims made by RCK meet the firm’s rigorous standards including compliance with both the legislation and HMRC’s guidance, without compromising on the value of relief to which clients are entitled.  The Compliance Team also manages all correspondence with HMRC and any arising Enquiries. The team has a strong track record of resolving HMRC enquiries in a mutually beneficial manner for their clients and HMRC. Outside of tax, Eli's passionate about helping others navigate the convoluted care system in the UK. This stems from his lived experience as a primary carer for his brother-in-law who has Down’s Syndrome.
Picture of Chris Johnson

Alex Marshall

Senior Compliance & HMRC Liaison (former HMRC R&D Inspector)

Alex Marshall joined RCK directly from HMRC’s R&D department, bringing more than 3 years of experience as an R&D Compliance officer. In his role as a Senior Compliance & HMRC Liaison at RCK, Alex plays a crucial role in the Compliance team by responding to HMRC enquiries and advising on our approach to claims.
Picture of Chris Johnson

Wane Thayalan

Senior Compliance & HMRC Liaison

Wane has been practising in R&D tax incentives for several years, including Ayming, PwC and EY, and recently returned from a year working overseas in the Swedish R&D regime. With a geochemistry postgraduate background and specialised in construction, engineering and life sciences R&D claims, Wane’s previous roles have all been fully 360 covering business development, claim preparation, reviews/sign-off and enquiries.
Picture of Chris Johnson

Pia Chakrabarty

Assistant Manager

Pia is an audit and accounting professional with extensive experience in statutory audit procedures, accounting principles and financial reporting.

She has audited clients listed on various stock exchange (NSE/BSE/SEC) in sectors such as manufacturing, IT services and healthcare services, and has been responsible for auditing a whole unit of an NSE listed company, performing SOX audit for an SEC listed client.

Pia has assisted clients in preparation of standalone and consolidated financial statements in line with respective accounting framework, with subsidiaries in various countries.
Picture of Chris Johnson

Gosia Szalega

HMRC Liaison

Gosia obtained BSc (Hons) in Pharmaceutical Chemistry and MSc in International Business and Management. She has previously spent more than 3 years working in R&D Tax both in the UK and in Canada, where she was heavily involved in claim preparation and defence.
Picture of Chris Johnson

Parampreet Thiara

HMRC Liaison (former HMRC R&D Inspector)

Param joined RCK directly from HMRC, where he most recently worked within their R&D department. Having spent just over 3 years at HMRC, Param initially trained as a Higher Executive Officer in Corporation Tax compliance before moving on to work in Complex Evasion, where he led investigations into large companies, as part of the Wealthy and Mid-Sized Business Compliance Directorate. Prior to working at HMRC, Param read Economics at the University of Birmingham.
Picture of Chris Johnson

Taher Ebrahim

Compliance Consultant

Taher graduated from the University of Nottingham with a degree in Economics and French, during which time he studied at the Toulouse School of Economics. With recent experience in the not-for-profit sector, Taher worked as an Assistant Research Analyst in Paris before developing his audit skills back in the UK.
Picture of Chris Johnson

Mohammed Yusufali

Compliance Consultant

Mohammed graduated from University of Portsmouth with a degree in Accounting and Finance. He has worked in various industries including retail and manufacturing with broad commercial acumen and a thorough understanding of the accounting process.