Partner with Tax Cloud to benefit your clients and your practice

19th Nov 2021
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Referral fees of up to 30% on offer

Your accountancy practice has been around for years with an established team offering a broad range of services. Surely you don’t need anything else?

For general accounting needs - tax returns, financial planning and all the usual things your clients ask for - that might well be true. But what about the really niche stuff, like R&D Tax Credit claims? Do you feel confident to guide your client through their claim, identifying every single cost applicable before building a watertight technical narrative that stands up to HMRC scrutiny? And do you actually have time to anyway?

Bring on the Tax Cloud portal partner programme.

The Tax Cloud portal in brief

The Tax Cloud portal was designed by the R&D tax relief experts at Myriad Associates and works slightly differently to our full service provision. Essentially, it’s a way for accountants to make R&D Tax Credit claims on behalf of their clients with regard to innovative technological or scientific projects they’ve recently undertaken (see what qualifies here).

It’s a cost-effective, simple way of getting the tax rebate your client is owed, accurately and in full, without the commitment of employing an R&D tax advisor inhouse. You’ll be guided and supported by the Myriad team along the way as required, with claims then sent directly to HMRC.

What makes the Tax Cloud portal unique?

The Tax Cloud really stands out for four main reasons:

1. It costs less (much less)

The Tax Cloud portal isn’t as hands-on as our full service in that accountants invest their own time in entering their clients’ figures and information. The fee for using the Tax Cloud portal is therefore much lower to reflect this, making it a very attractive option.

2. Full integration with Xero

If your client uses Xero, the portal makes life even simpler when it comes to entering in their figures.

3. Support is on hand

The Tax Cloud portal involves following a series of steps to create your client’s R&D Tax Credit claim. But at every stage, Myriad specialists will check what you’ve entered is correct and meets HMRC guidance. The team is also on hand for any extra advance or questions.

4. Easy online access whenever, wherever

The portal is cloud-based, so can be accessed from anywhere at any time without any downloading. It’s a very centralised way of doing things, so both you and your client can access their application and work on it 24/7.

How else can Tax Cloud benefit accountancy firms?

We’ve mentioned the fact that you won’t need to take on any extra staff to deal with R&D Tax Credit claims. But by using the portal, you’re still expanding the services you offer to clients with very little extra effort. Indeed, your firm can actually benefit financially from the portal along the way through our partnership programmes (we’ll look at the detail in a minute).

In simple terms, R&D Tax Credit claiming isn’t the kind of subject you can do a day’s course on and instantly be an expert. It’s an intricate, complex and very niche area of accountancy where it’s easy to put a foot wrong, giving both you and your client a huge financial headache.

Furthermore, by expanding the tax service your team offers, you’re also building your brand, your portfolio and your reputation.

What Tax Cloud Partnership Programmes are available?

Myriad developed the Tax Cloud portal in recognition of the fact that too many businesses were missing out on thousands of pounds of unclaimed R&D tax relief each year. Back in 2018 it became clear that one of the reasons for this was simply because their accountant didn’t have the time, skills or confidence to make and maximise their claims. That’s why we launched our two Tax Cloud Partnership Programmes which accountants can choose from: The Referral (or Introducer) Package and the Partner Package.

The Referral (or Introducer) Package

The Referral Package means that you as your client’s accountant must identify which of your clients have recently carried out an eligible R&D project. You then approach the subject of R&D Tax Credits with them, explaining what the relief is and how it works. If the client is interested and wants to proceed with a claim, you recommend the Tax Cloud portal to them and they sign themselves up to make their own claim themselves.

Once the claim is complete and successfully processed by HMRC, your practice is awarded a 15% referral fee.

The Partner Package

Accountancy firms going down the Partner Package route will then become one of our ‘certified partners’ who are able to make claims using the portal on your clients’ behalf. Instead of them going away and doing it themselves as with the Referral Package, you use the Accountants section of the Tax Cloud portal to do it for them.

If you decide the Partner Package is preferable, we’ll start off by offering online training to get you well acquainted with portal and the claims process itself. Once you’ve completed the course and become an officially certified partner, you’re qualified to work collaboratively with your client on making their claim.

When the application is complete, the portal will produce a claim report to be sent off to HMRC. There’s plenty of support along the way though, so no worries about going it alone.

As this is more of a time commitment for you, your practice will receive a generous 30% revenue share fee on successful completion instead of the 15%. But as with the Referral Package, the more clients you get on board the more your practice could earn.

Sign up for a Referral or Partner Package and expand your repertoire of services today

Interested in partnering with us?

Whether you’re ready to sign up now or simply want to ask a question, get in touch or call 020 7360 4437.

No matter where in the UK or Ireland you’re located, our team will work with you remotely so there’s no need to even leave your desk. Thousands of pounds could be at stake - make sure your clients, and your practice, don’t miss out.