GovGrant recently exhibited at The Digital Accountancy Show, a one-day exhibition specifically focussed on digital transformation and the app ecosystem. It was great to meet so many people in person – rather than virtually. And even better to introduce so many accountants to Elevation, our R&D tax credit software built for accountants.
GovGrant has always embraced the move towards a more digitally enabled accountancy practice so investing Elevation is key to our relationship with accounting partners. If you haven’t had a chance to experience Elevation for yourself, here are the most frequent comments and questions by the visitors to our stand.
“I know about R&D but I hadn’t even thought about Patent Box”
We can certainly see the R&D tax credit schemes as successful, with sustained growth in value and more and more companies accessing the schemes. But perhaps we can’t say the same for the take up of tax relief under Patent Box. SMEs are receiving a tiny percentage of the value of the Patent Box scheme.
Many accountants were keen to find out more and were pleased to see Elevation as a gateway not just to R&D tax relief but also to wider IP services. We should be seeing many of the companies claiming R&D tax relief go on to claim under the Patent Box scheme. GovGrant offers their accounting partners the toolbox so that they can have this conversation with their clients.
“Knowing that it’s fully secure solves a real problem for us”
We know that creating a successful R&D tax credit claim can mean that sensitive information needs to be shared, specifically payroll information comes to mind. This is rightly a concern for our accounting partners, so we built Elevation with security at its heart. It’s the kind of reassurance that our accounting partners are looking for.
“I can’t believe it’s free of charge – what’s the catch?”
Elevation is offered free of charge to our accounting partners – that’s free to access and free to use. This is our commitment to the accounting profession and the integrity of the R&D tax relief scheme. Platform takes you through a simple process to help smaller, eligible clients make an R&D tax credit claim. If a client has more than £35k of qualifying R&D expenditure, then we believe that client needs to benefit from the insight of one of our Technical Specialists and we would recommend that claim would be referred to GovGrant for full claim preparation.
Platform means that all businesses have access to a robust and appropriate R&D tax credit service, through their accountant.
“This makes it really clear who qualifies for R&D tax credits, and who doesn’t”
The question that I get asked most often is “How do I know if clients qualify for R&D tax credits?” We have tools that at a glance show you the questions to ask and how to interpret the answers.
This sits in the wider context of our partner onboarding support and CPD training we offer to our accounting partners so that they always feel like they have up-to-date knowledge of R&D tax relief and Patent Box to offer their clients.
