Tax Cloud, our online R&D tax relief claim portal will be launching a closed beta soon and we'll be giving our selected customers an exclusive walk-through. The platform is ideal for small businesses and the success fee for using this service will be 3.5% of the R&D expenditure. This is equivalent to 10% to 13.5% of the corporation tax savings which compares to typical tax consultancy rates of 15% to 20%.
The new portal will be offering small businesses (up to 50 employees) a guided, innovative, cost-effective online tool to help them through the R&D tax relief claim process. Tax Cloud will also be fully supported by the specialist team at Myriad Associates and we are aiming to launch this innovative solution later this year.
Potential users can still register their interest by joining our Early Adopters programme at www.taxcloud.co.uk and receive a guaranteed 15% discount on our fees for their first claim. Over the next few weeks we'll be finalizing the development of Tax Cloud's core user experience with our selected beta clients and unveiling more exclusive features very soon.