In 2021 we announced the acquisition of Luvo Financial by GovGrant. Both parties recognised this as a significant opportunity as the R&D market consolidated. One year later I’m reflecting on the experience for Luvo clients, partners, and for me personally.
Why was the GovGrant acquisition an opportunity?
Luvo had successfully operated independently for 6 years before we were approached by GovGrant. The R&D market had become increasingly challenging and fragmented, with many less scrupulous organisations coming into the market over recent years. We believed that the market was only going to consolidate further.
The most important thing for us was that our values were aligned, we saw GovGrant as credible and professional specialists in the market who were focussed on increasing the integrity of the scheme.
We recognised GovGrant as a larger, professional, and honest company and welcomed the opportunity to become part of a wider organisation, enabling us to offer our existing clients greater service and expertise.
How did Luvo transition into GovGrant?
The transition to GovGrant was fairly smooth, with Luvo clients and Accounting Partners recognising the benefit of the greater offering, in particular the access to Elevation for Accounting Partners. We ensured my clients continued to deal with me, whilst at the same time introducing them to the GovGrant team. This seems to have worked well with clients immediately seeing the benefit.
On a personal note, I’ve very much enjoyed working with the GovGrant team. From the support of the (excellent) Account Managers who help support the client through the claim process, through to the other departments who work well together to give the accountant, introducer, and client the best possible support in all areas of R&D tax relief, Patent Box and our other innovation services.
What next?
I definitely feel like a member of the GovGrant team now. I started as a Technical Specialist so I could continue to oversee the R&D claims of migrating Luvo clients. Now, due to my belief in the integrity of the business and senior team, I have moved over into a head office position, where I can assist in driving forward the business, particularly in supporting our Accounting Partners.
Find out more about being an Accounting Partner here.
