Areande and Innovation- Bringing Britain Back to the Future

 Areande have the expertise and technology to bring businesses back to the future. Using their seamless and innovative technology, the HMRC Tax Specialist firm have made the relief scheme easier to use than ever before.

A lot has been said about the UK Government and HMRC in the past few years, and not all of that has been positive. Since 2007, Britain's economy has transformed and we have witnessed a number of changes to our day to day lives. For businesses across the country inherent risks such as Brexit and the coronavirus pandemic have become part of the “new normal”.  Accountants are at the epi-centre of the modern day business as they add value to our processes, finances and leadership.  There is undoubtedly a growing influence and demand for HMRC tax specialist to support our firms and take their finances to the next level. Creative and effective tax planning is fundamental in ensuring they get the most from their finances and provide a well needed boost to an already suffering economy.  

The benefits of tax planning can be significant and are a legal way to reduce your tax liability by thousands and possibly millions of pounds, depending on the size of your business.

The UK government is fully supportive of tax planning innovation, and have offered a lucrative tax scheme which allows firms across various industries to recover some of its expenditure as research and development tax relief. The scheme has been in play since 2000 and is used to encourage businesses to think forward and lead the way in their field of study.

Even so, many businesses have struggled to fully understand it and instead have opted against applying for something they are not fully conversant with. This may be partially behind the recent statistics of one in four businesses in the UK closing their doors from the coronavirus, an example that a lack of ideas and support can lead any business to its death. In 2019 an astonishing 86% of innovation tax relief went unclaimed.

The subject of taxation in the UK is unsurprisingly complicated, its rules often overlap each other and mean a chartered tax advisor and HMRC Tax Specialist should be your preferred, albeit expensive, choice that firms will look to for guidance and support. 

Surprisingly perhaps, HMRC tax specialists such as Areande could be the hire of 2020 and keep the lights on in businesses up and down the country as having developed a seamless and innovative way to claim research and development tax relief. This sort of relief can be a major source of finance for businesses who are feeling the pinch and once a firm realises the transformative financial benefit of the incentive, it can act as a catalyst for further innovation.

From following their website, it was simple and easy to use and frankly required minimal effort to get the ball rolling. Areande work with HMRC in order to obtain its clients maximum research and development tax relief, with more than one reason you should work with them. HMRC tax specialists like Areande are highly respected in their profession due to their skills, expertise and experience meaning they are trusted to deliver by both HMRC and their clients.

HMRC tax specialists are often held to a higher standard by HMRC as opposed to a large company going it alone, which is why It is important for clients to choose a reputable firm with high quality standards. Areande have a blended mix of former HMRC inspectors, CTA advisors and technical specialists which allow them to stand out from the crowd. In this area paying more for a specialist may benefit your business in the long term and allow you to fully utilise your allowances to reduce your tax liability to HMRC.