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Tax Cloud is an R&D Tax Credits claim portal.

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Try out the Tax Cloud at Accountex - £10 for charity in it too

22nd Apr 2022
Brought to you by
tax cloud

Tax Cloud is an R&D Tax Credits claim portal.

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The Tax Cloud team is coming to Accountex 2022 at ExCeL London on 11th and 12th May!

We’re so excited to be heading in to demonstrate the Tax Cloud portal as the leading solution to successful, maximised R&D Tax Credits claims.

So what’s great about Tax Cloud?

We thought you’d never ask!

The Tax Cloud portal was developed by the R&D tax and funding experts at Myriad Associates as a simple, great-value way to put an R&D tax claim together on your clients’ behalf. It’s the perfect alternative to our full consultancy service.

Sometimes a company’s R&D landscape and costs are relatively straightforward. This is particularly the case with small companies who may also be attracted to Tax Cloud’s much lower fees.

However, like the full service, there’s always support on hand from our team. But as you’re adding your clients’ costs and figures in for them - rather than us doing it - the price reflects this. And of course, there’s a referral fee in it for your practice too. More on this later…

What’s the process for using Tax Cloud?

For accounting professionals, partnering with Tax Cloud makes sense. Not only does it mean you can rest assured your clients’ claims include all their eligible R&D costs, but there’ll also be no hot water with HMRC either.

Having signed up (for free) it’s simply a case of working your way through each step to put together a claim on your clients’ behalf. Once you’ve completed a section and hit submit, one of our experts will check it through and provide feedback where needed. Then the next stage will only “unlock” once the previous one is verified and any revisions made.

Expanding the range of service your practice offers

Recent data shows there are approximately 43,250 accountancy firms in the UK - and most of them are small businesses. In fact, around 80% of practices are made up of four employees or fewer, with the ability to expand services something of a challenge.

By using the Tax Cloud portal, you’re effectively adding to the repertoire of services your practice offers, without having to employ more staff. The fact is, R&D tax relief has been around since the year 2000, and is something there’s high demand for - your clients are likely to expect it.

The problem is, the knowledge and experience required in what is frankly a very niche area of accountancy is not always easy to come by. And staff costs - not to mention the practicalities of recruiting - simply may not be feasible. But with the Tax Cloud portal accessible online 24/7 from any device, you can even complete your clients’ claim on the go with no annoying software, downloads or maintenance. It even integrates with Xero.

Referral fees of up to 30% up for grabs

Accountancy firms choosing to partner with us can choose from either our Partner Package or our Introducer Package.

The Partner Package

With this package you’ll be trained by us in how to use the Tax Cloud portal before accessing it on your client’s behalf. Your client then enters in their project information and details themselves, while you take care of the accountancy side of things and the costings.

Once all this is done, the Tax Cloud portal will produce an R&D tax claim report ready for submission to HMRC. If any questions or queries are then raised by HMRC - even once the claim is submitted - we’ll also manage this for you. Then, when the claim is accepted and the relief administered, your practice can claim 30% as your revenue share fee.

The Introducer Package

Tax Cloud’s Introducer package is the less hands-on of the two.

First off, you sign up your client directly with Tax Cloud. But instead of you completing the claim for them, they do it themselves. Again, there’s plenty of support on hand from our specialists and it’s still a simply step-by-step process.

Tax Cloud will then produce the R&D report exactly as before. Even as their accountant there’s no specific input you need to give them. And once the relief has been awarded, you can then claim your 15% (rather than 30%) referral fee.

Discover more about our partner packages at Taxcloud/Accountants.

Why not come along and try the demo?

Accountex is the number one destination for accounting professionals from across the UK and beyond.

The Tax Cloud team will be offering demos so you can see in more detail what’s involved and how it works. And not only that, but for every demo we undertake at the show we’ll donate £10 to Rainbows Children's Hospice or the Ukrainian crisis appeal.

The digital revolution is well underway, so it’s more important than ever to stay ahead of the game by embracing new technologies. The event is free to attend and counts as 8 hours of CPD.

Come down and say hello! And don't forget, you can try the demo yourself for free any time online.

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