Once a specialist area that was only reserved for R&D tax consultants and top 20 accounting firms, Tax Cloud has made it possible for any accounting practice to offer R&D tax relief services. Practices that are already using Tax Cloud are attracting new clients, adding value to existing clients and generating high margin revenue.
Tax Cloud offers accounting practices a fully supported, simple and cost-effective online tool to help them and their clients through the R&D tax relief claim process. Tax Cloud is powered by R&D experts Myriad Associates, who boast a 100% success rate spanning 17 years. Myriad's specialists can be contacted directly by telephone and will review and leave comments at each step of the process. You can also reach the experts through the live chat facility or by email. Once the claim has been approved by Myriad a pdf technical and costing report is auto-generated and will be emailed to HMRC. The tax team at Myriad will produce the amended tax return and deal with any questions from HMRC.
The short answer is that you don't need to know as the specialists Myriad Associates will review the project information and let you know if it qualifies.
You will find a very handy R&D Tax Calculator on the Tax Cloud website with will give you an instant estimate of the savings and the cost of using Tax Cloud. Accounting practices under the Certified Partner Programme receive 30% of the Tax Cloud fee.
More details about Tax Cloud can be found at www.taxcloud.co.uk.