What is the Tax Cloud Partner Programme & What Can it Do for Me?
Help your clients achieve the R&D Tax Credits they deserve whilst benefitting your own practice, thanks to the Tax Cloud Partner Programme.
Tax Cloud Partner Programme: Choose what works for you
Back in 2018, we unveiled our pioneering Tax Cloud Partner Programme which was designed to help UK accounting firms achieve the R&D Tax Credit awards their clients are owed. The Tax Cloud Partner Programme comes into force when Accountancy firms decide to work with the Tax Cloud portal.
Essentially, the Tax Cloud portal is an innovative, cost-effective and easy-to-use way to claim R&D Tax Credits. Businesses can log in and complete their claims themselves, or their accountants can do it on their behalf. Our expert team are there at every step of the claims process, offering support and guidance. And, once the claim has been completed, will send it directly to HMRC.
The Tax Cloud portal was developed and is fully supported by Myriad Associates. Having spent almost two decades in the industry, we’re proud of our 100% success rate and we know exactly what works.
In this post, we’ll look in more detail at the Tax Cloud portal and how partnering with us could benefit you, your clients and your practice.
4 reasons why the Tax Cloud portal is different to all the rest
The Tax Cloud portal stands out from the crowd. This is thanks to:
1. A lower fee structure
Claiming R&D Tax Credits using Tax Cloud will always be cheaper than using a traditional, full-service offering. This is because businesses (or accountants) invest their own time to enter their own figures and workings. Tax Cloud’s lower price reflects the time commitment that’s needed, which - especially in these tough economic times - your clients will find helpful.
2. Expert support whenever you need us
Tax Cloud is a self-guided online portal where you follow a series of steps to complete your claim. But the difference between this portal and the other online portals is that you’re not alone! Our team are always on hand for advice whenever we’re required.
3. Full integration with Xero
If your client uses Xero, they'll find using the Tax Cloud portal even easier when entering their figures, thanks to the way they integrate together.
4. Peace of mind
Everything is in one, central place so you/your clients can work on the same application at a pace and time that suits you both. It’s completely cloud-based too, as the name suggests, so no downloading or maintenance is needed, and it’s accessible 24/7 from any internet-connected device.
What benefits can Tax Cloud bring to accountancy firms, specifically?
Plenty! First off there’s the financial benefit of our two partnership programmes (more on this later). But the Tax Cloud portal also offers your firm the chance to expand the services you offer to clients, without extra layout or having to take on additional staff.
Quite simply, R&D tax relief and funding is a highly niche area of accountancy requiring particularly specialised knowledge. Finding the time and resource to offer this service in-house to your clients is likely to be a real headache - which is where the Tax Cloud portal comes into its own.
It essentially means that your clients can achieve the R&D Tax Credits they’re entitled to, without your firm having to invest in a whole new in-house R&D tax team.
By offering a more inclusive tax service and diversifying your offering, you’re also strengthening your reputation amongst new (and existing) clients. It’s a one-stop-shop if you will.
The full Myriad Associates consultancy service vs the self-service Tax Cloud portal
In a nutshell, Myriad Associates’ full R&D tax claim consultancy service is ideal for companies looking for more one-on-one support. Perhaps they have particularly complex tax affairs, or the R&D work they’ve done is very niche. Or maybe they haven’t claimed R&D tax credits before or require tailored guidance.
As we’ve discovered, the Tax Cloud portal is a more hands-off, a ‘light touch’ offering that puts the control into your hands.
What Tax Cloud Partnership Programmes are available?
There are two types of Tax Cloud Partnership Programme packages available:
- The Referral (or Introducer) Package
- The Partner Package
The Referral (or Introducer) Package
The Referral (or Introducer) Package is incredibly simple. It works like this:
- You identify the clients who have recently taken on innovative R&D projects.
- You then raise the subject of R&D Tax Credits with them.
- If your client decides they want to go ahead with an R&D Tax Credits claim, you recommend the Tax Cloud portal to them.
- The client signs up to the Tax Cloud portal for businesses themselves and completes their own, fully guided, online claim.
- Then, for every claim that HMRC successfully processes, you will receive a 15% referral fee.
The Partner Package
If you choose the Partner Package, you’ll become one of our ‘certified partners’ and will be able to use Tax Cloud to make an R&D claim on your clients’ behalf, via the Accountants section of the portal.
To get you going, the R&D tax experts at Myriad Associates will offer you free Tax Cloud training. It’s all held online, at a time that suits you.
Once this is complete, you’ll then officially become one of our certified partners and will be able to manage all your client's claims from start to finish. Your client can add project and technical information while you look after the costing aspects - all under our guidance and support of course.
Tax Cloud then produces an R&D tax claim report that can be submitted to HRMC. But don’t forget, you’re not simply left to your own devices. We’re here at every stage to answer any questions and offer helpful advice as you go along.
For each successful claim processed by HMRC, you will receive a 30% revenue share fee.
If either of our package’s appeal to you, please do get in touch to discuss which work best for you.
Speak to the Tax Cloud team
Would you like to understand more about partnering with us? Perhaps your own accountancy firm could benefit from R&D Tax Credits?
Our specialists are here to answer your questions and get the ball rolling. Call us today on 0207 118 6045 and get signed up when you’re ready.
With bases across the UK and Ireland, we work entirely remotely to offer maximum convenience to you. Don’t let your clients miss out on what could easily be many thousands of pounds of extra cash.