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Being a Source Advisors company – what does it mean for our accounting partners

Posted on Wednesday 4 October 2023 by Vicki Morrall | Accounting Partner Director

You’ll remember that on 31 March 2023, GovGrant was acquired by Source Advisors LLC an exciting step on our continuing journey as the UK’s authority on incentives for business innovation. As part of the Source family, we share a joint vision deeply rooted in quality, relationships, technical excellence, and creating the very best working culture for our people.
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HMRC announcements on R&D – what accountants need to know

Posted on Wednesday 19 July 2023 by Vicki Morrall | Accounting Partner Director

You may have seen that the R&D tax relief schemes have been in the news again, based on new activity and information from HMRC. For any accountants who have clients claiming R&D tax relief, or who offer this service in-house, this is what you need to know.

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How is the pressure on HMRC impacting R&D enquiries?

Posted on Wednesday 7 June 2023 by Vicki Morrall | Accounting Partner Director

A headline in The Times, Saturday 20 May 2023 stated “Brace yourself for more HMRC chaos” and warned that new tax rules would mean more work for a tax office that is already struggling to cope with queries. This was raised in the context of personal tax affairs, rather than anything specifically around corporation tax or R&D tax relief issues, but it speaks to a system under strain. > Read more

What accountants need to know about the R&D baseline

Posted on Monday 27 March 2023 by Vicki Morrall | Accounting Partner Director

In the past accountants might have been comfortable dealing with the financial aspects of an R&D tax relief claim, but may have felt less qualified to assess the technical or scientific aspects of their clients’ claims.
Many accountants I have spoken to recently have left this aspect entirely to their clients, believing them to be the experts in their field. But now that HMRC’s rate of enquiry is increasing they find that the client can’t answer HMRC’s technical questions, and neither can they.

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What do accountants need to know about HMRC’s OTM compliance checks into R&D tax relief?

Posted on Tuesday 7 March 2023 by Vicki Morrall | Accounting Partner Director

From the conversations that I’ve had recently, many accountants have noticed a change in stance from HMRC whose approach has become more forceful and their tone more combative in enquiry matters relating to R&D.
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Does it still make sense for accountants to keep R&D tax relief in-house?

Posted on Tuesday 7 February 2023 by Vicki Morrall | Accounting Partner Director

With increased scrutiny of the R&D tax relief scheme by HMRC, accountants are having second thoughts about keeping this service in-house. Is now the time to re-evaluate the benefits of a compliance-led partner to support you in the preparation of your clients’ R&D tax credit claims?> Read more

How should accountants deal with HMRC enquiries into their clients’ R&D tax relief claims

Posted on Wednesday 18 January 2023 by Vicki Morrall | Accounting Partner Director

As we move into a New Year there seems to be rumblings of concern from several accountants about the changes within the R&D tax relief regime, and the direction of travel from HMRC regarding the schemes.
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Luvo acquisition – one year on

Posted on Tuesday 25 October 2022 by Vicki Morrall | Accounting Partner Director

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.
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