Following significant changes to the rules surrounding research and development (R&D) tax credits, accountancy firms looking to enhance their R&D tax claim services are now turning to ZLX Business Solutions for specialist support.
With offices in Glasgow and Aberdeen, the company is offering a comprehensive R&D claim pre-submission audit and claim defence service for rejected claims.
ZLX has developed this bespoke service in response to the number of accountants and accountancy firms moving away from claiming R&D tax credits due to the increase in compliance reviews and requirement to complete a robust technical report.
The new service has been designed to support accountants and other professional service providers who want to separate R&D related activities from their general practice.
With extensive experience in providing expert R&D tax credit support, ZLX can provide accountants with peace of mind that their clients will attain their full entitlement and claims are prepared to withstand any potential HMRC challenges.
Stephen McCallion, founder and CEO of ZLX Business Solutions, commented: “We are extremely pleased to offer our specialist R&D claim pre-submission audit and claim defence service to accountancy firms looking to enhance their R&D tax claim support for their clients.
“There has been an exodus of accountants from claiming R&D tax credits since these legislative changes were first announced. Compliance reviews by HMRC take on average 100 hours of work to defend and accountants simply do not have the time or resources to offer a meaningful defence of these claims.
“It is increasingly complex and time-consuming to answer the required technical questions and respond to any compliance checks. However, our expertise in this area means we can provide accountancy firms with the confidence that their clients’ claims are being properly and professionally dealt with, while also freeing them up to focus on what they are best at doing.”
Since April 1st, 2023, the regulations surrounding R&D tax credits have tightened significantly. With an estimated five-fold increase in the number of compliance reviews carried out by HMRC, these carry the potential to penalise Scottish businesses who claim tax relief.
ZLX has developed a reputation as a robust defender of its clients against HMRC compliance reviews thanks in part to the investment made in recruiting its own, in-house specialist legal department.
The company is led by an experienced management team, including experts in legal, accountancy and technical disciplines, who identify projects eligible for tax relief and navigate clients through the claims process.
Now, ZLX’s pre-submission audit service involves a thorough review of the R&D claim before submission to HMRC. This includes a detailed analysis of the project, ensuring that the technical narrative is robust and aligned with HMRC guidelines.
Additionally, ZLX will review all financial information related to the claim to ensure that it meets the necessary criteria for eligibility.
In the event that an R&D claim is rejected by HMRC, ZLX will also provide accountancy firms with a claim defence service. The company will review the reasons for the rejection and work with the client to understand HMRC’s concerns and then work to address any issues and resubmit the claim.
Stephen McCallion added: “The latest changes from HMRC mark a turning point by requiring a high degree of legal and technical knowledge and expertise. Without these, the chances of facing a compliance review increase substantially and could lead to serious consequences for the business and its directors.
“By offering this audit service and partnering directly with accountancy firms, we can help level the playing field for small-to-medium sized practices that may not have the same level of technical or industry-specific expertise as the Big Four and allow them to concentrate on their niche specialism.”
With offices in Glasgow and Aberdeen, the company is offering a comprehensive R&D claim pre-submission audit and claim defence service for rejected claims.
ZLX has developed this bespoke service in response to the number of accountants and accountancy firms moving away from claiming R&D tax credits due to the increase in compliance reviews and requirement to complete a robust technical report.
The new service has been designed to support accountants and other professional service providers who want to separate R&D related activities from their general practice.
With extensive experience in providing expert R&D tax credit support, ZLX can provide accountants with peace of mind that their clients will attain their full entitlement and claims are prepared to withstand any potential HMRC challenges.
Stephen McCallion, founder and CEO of ZLX Business Solutions, commented: “We are extremely pleased to offer our specialist R&D claim pre-submission audit and claim defence service to accountancy firms looking to enhance their R&D tax claim support for their clients.
“There has been an exodus of accountants from claiming R&D tax credits since these legislative changes were first announced. Compliance reviews by HMRC take on average 100 hours of work to defend and accountants simply do not have the time or resources to offer a meaningful defence of these claims.
“It is increasingly complex and time-consuming to answer the required technical questions and respond to any compliance checks. However, our expertise in this area means we can provide accountancy firms with the confidence that their clients’ claims are being properly and professionally dealt with, while also freeing them up to focus on what they are best at doing.”
Since April 1st, 2023, the regulations surrounding R&D tax credits have tightened significantly. With an estimated five-fold increase in the number of compliance reviews carried out by HMRC, these carry the potential to penalise Scottish businesses who claim tax relief.
ZLX has developed a reputation as a robust defender of its clients against HMRC compliance reviews thanks in part to the investment made in recruiting its own, in-house specialist legal department.
The company is led by an experienced management team, including experts in legal, accountancy and technical disciplines, who identify projects eligible for tax relief and navigate clients through the claims process.
Now, ZLX’s pre-submission audit service involves a thorough review of the R&D claim before submission to HMRC. This includes a detailed analysis of the project, ensuring that the technical narrative is robust and aligned with HMRC guidelines.
Additionally, ZLX will review all financial information related to the claim to ensure that it meets the necessary criteria for eligibility.
In the event that an R&D claim is rejected by HMRC, ZLX will also provide accountancy firms with a claim defence service. The company will review the reasons for the rejection and work with the client to understand HMRC’s concerns and then work to address any issues and resubmit the claim.
Stephen McCallion added: “The latest changes from HMRC mark a turning point by requiring a high degree of legal and technical knowledge and expertise. Without these, the chances of facing a compliance review increase substantially and could lead to serious consequences for the business and its directors.
“By offering this audit service and partnering directly with accountancy firms, we can help level the playing field for small-to-medium sized practices that may not have the same level of technical or industry-specific expertise as the Big Four and allow them to concentrate on their niche specialism.”
