How Myriad Associates Can Work With Both Clients And Their Accountants Remotely
With the emergence of novel coronavirus COVID-19 in the early spring, vast numbers of businesses around the world were forced to close. Staff who would never normally have worked from home found ways of doing so, and a ‘new normal’ descended.
At Myriad Associates we’re fortunate in that the vast majority of our teams have always worked remotely, even pre-COVID. Although have office bases in both the UK and Dublin, we have long extolled the virtues of remote working as a progressive and effective way to offer our services. Luckily this has meant business as usual, which will continue whatever may come.
How we collaborate with our accountants, business partners and clients remotely
Our accountants, business associates and clients are spread right across the UK and Ireland, and by working remotely we can reach out to as many of them as possible. We’re a tight knit team of R&D tax experts, accountants and advisors with almost two decades in business behind us, so there’s very little we don’t know!
Thanks to our 100% success rate in compiling and submitting successful R&D tax relief applications, we have built a strong professional reputation. We have no geographical boundaries, and can work with clients in a faster, more efficient way because of this. Additionally, remote working allows us to develop excellent working relationships with accountancy practices and to be available whenever we’re needed. This of course also means we can safely offer specialist advice and support, whilst also keeping trusted business accountants involved through the whole claims process. And no social distancing issues!
The highly skilled and experienced team at Myriad Associates work exclusively in the field of R&D Tax Credits, R&D Grants and Video Games Tax Relief. We can also help secure full relief on Capital Allowances regarding your R&D investments if required.
Essentially, we help you to help your clients.
How the R&D tax claims process works
The beauty of our service is that you don’t need to go to the hassle and expense of visiting us on site. We’re easily contactable by phone, email, social media, and via our website contact form, plus we’re also happy to talk face to face via video call.
Taking up just a couple of hours of their time, Myriad Associates will handle your clients’ R&D claim from start to finish. We will go through all their project work and figures with a fine tooth comb, extracting the precise costs that can be included. Finally, we’ll put together their technical report, which will meet all of the HMRC criteria and support their claim fully. This all means that you and your client can rest assured that their application is right first time - and if HMRC do raise a question, we’ll deal with it for you.
Why choose Myriad Associates specifically?
The Myriad Associates team is proud of the award-winning R&D tax relief and grant funding service we offer. Not only can be obtain the financial injection your client is owed, but you know that thanks to our remote working structure we can work flexibly to suit you.
Since we launched, we’ve secured more than £20 million of tax reliefs and grants on behalf of our clients across every sector, and our customer service is second to none. Not only do we strive to understand a specific project, we also look at the company’s wider objectives in order to provide timely, bespoke tax advice on existing or planned R&D work.
Briefly, we will:
- Handle all aspects of the claims process and offer advice at every stage
- Identify every eligible R&D activity and cost
- Create a high quality technical narrative to support the claim
- Prepare the costing schedule
- Work alongside you as the client’s accountant in filing the claim
- Answer any questions HMRC raises
Why would an accountancy firm like mine need the services of Myriad Associates?
Putting together a claim for R&D Tax Credits can be time-consuming and very complex, especially for companies (and accountants) who have never claimed before. By contacting a specialist R&D tax consultancy such as ourselves, you’ll be adding significant value to any potential claim, whilst knowing that the advice you receive is totally accurate and up-to-date.
Typically, claims which are collated and submitted by us are up to three times higher in value than ‘DIY’ claims by clients who don’t seek specialist advice. Plus, we will take the hassle out of trying to navigate the process yourself, therefore freeing up your time to get on with everything else.
Inaccuracies can have serious consequences
The onus is on businesses to actively justify their claims for R&D Tax Credits - simply sending off some calculations just won’t cut it. Mistakes, even for the most experienced of accountants, can be incredibly easy to make - not least because guidance and legislation around this type of relief changes regularly.
At best, an inaccurate R&D Tax Credits claim can give rise to an award which doesn’t reflect the true costs of the R&D work. Items can be missed off which easily leads to under-claiming. At worst, an application which is unconvincing or that contains incorrect figures will raise HMRC suspicion. They will then likely ask further questions, and - if still not satisfied - raise an enquiry into the company’s wider tax affairs. Any award can be reinvestigated even once the relief has been received, and anything deemed incorrect will give rise to potentially hefty fines. It’s stressful, expensive, and could damage your firm’s reputation. We say it’s not worth the risk - which is why we’re here and ready to help.
Get in touch with the friendly team at Myriad Associates
If you would like to find out more about how Myriad Associates can work alongside you in offering a more complete R&D Tax Credit claims service, we would love to hear from you. Please do get in touch on 0207 118 6045. Alternatively you can drop us a message and we'll get right back to you.