Tax Cloud Ireland Updates Pricing
Ever since the Tax Cloud portal for Ireland was launched, its sole purpose has been to deliver a high quality, fully supported R&D tax credits claims service at a fantastic price. This continues to be the case and will remain our ethos throughout 2020 and beyond.
However, some improvements have recently been made to the service in order to keep it competitive and to make sure it’s streamlined and fit for purpose. For this reason, we’ve now taken steps to update our pricing structure - here we explain more.
What are the updates to the pricing structure?
From now on, our prices will reflect the amount of Corporation Tax savings that an Irish company makes when they successfully receive R&D Tax Credits. Under the new regime, an invoice will only be raised by us once a claim has been paid by the Revenue.
The Tax Cloud website mentions two percentages - there’s a 10% rate and a 5% rate. What’s the difference between the two and how do I know which one applies to my claim?
The different percentages are based on how much Corporation Tax Saving (CTS) an Irish company has saved. The 10% rate applies to companies with a CTS up to €200,000, and any claim which results in more than €200,000 worth of CTS will be charged at the 5% rate. This is regardless of whether the benefit is received as a reduction in Corporation Tax or as payable R&D tax credit. So, if your benefit was €200,001 then the fee for using the Tax Cloud portal, including support from our experts, would be 5% of €200,001.
How can I calculate how much my fee will be?
We highly recommend giving the Tax Cloud calculator a try. It’s been specifically designed for businesses in the Republic of Ireland. To find out what you could claim, simply enter in your company’s details to achieve an estimate of what your R&D tax credits may be worth. Based on this figure, the calculator will then generate our fee so you can see at a glance what you’ll pay to help secure your claim.
What were the previous fees, and why the change?
Before these changes came about, our pricing was based on corporate expenditure on R&D. However, we are aware that other R&D tax advisors in Ireland calculate their fees based on Corporation Tax Savings, so we decided to do the same. This makes us comparable to other offerings and brings us in line with industry standards. It has helped us reduce our fees going forward and maintain our competitive edge. This is works particularly well when you compare us against t raditional R&D tax credits specialists who tend to work face to face.
Why are there two different percentages?
Tax Cloud is best suited to medium and larger sized businesses, which is why we devised our two-tier system. The belief is that our 5% rate will be particularly attractive to such businesses, as they tend to generate the higher claim values. This tiered pricing also means we can compete with other tax credits specialists in the market who tend to bill for a fixed or hourly rate. Our 5% offering therefore makes us a promising choice when Irish businesses are looking to make a larger claim.
What does the change mean for existing Tax Cloud customers?
The good news is that our new rates are applied to all claims started on or after 1st January 2020, as well as to all claims that were already in progress. This means that our loyal existing customers will automatically benefit in the same way as new customers.
Why should I use the Tax Cloud portal for my next R&D tax credits claim?
The Tax Cloud portal was specially created by the R&D tax experts at Myriad Associates, offering an end to end, fully supported application process. Allowing you to insert your own company’s figures, it then produces a PDF claim report that’s ready to be approved by Revenue. It offers a step by step guide and a huge amount of professional assistance along the way. We even boast a 100% success rate too, which is something we’re incredibly proud of. It all adds up to a cost-effective, highly accurate R&D tax credits solution that’s designed to help you secure and maximise your R&D claim.
What are the benefits of using Tax Cloud in Ireland?
There are so many benefits to using the Tax Cloud portal for your R&D Tax Credit claim. Not only is it incredibly cost-effective but it’s straightforward to use. Considering the claims process can be particularly complex, this is a massive benefit.
The platform is also entirely web-based so can be accessed anywhere, any time - even outside office hours. All your queries and guidance will be offered over the phone, by email or by live chat, making the whole service very slick and flexible.
The other big advantage to note is that the Tax Cloud portal is supported by a range of R&D tax credits specialists. It removes the hassle and worry regarding queries from the Revenue, plus you know that all your costs have been included accurately. Our team consists of not just R&D specialists, but tax advisors and accountants too, and with over 20 years’ experience behind us there’s not much we don’t know. All this means you can rest assured that you’re getting a top-notch consultancy service but without the hefty price tag. Plus, you’ll always deal with same professional, highly skilled account managers every step of the way.
Ready to make your fully optimised claim for R&D Tax Credits?
If you would like to speak to us about anything we’ve mentioned here, please call us today on +353 1 566 2001. Alternatively send us a message using our contact form and we’ll be pleased to get back to you.
- Submitting R&D tax claims since 2001
- 100% success rate
- Over €100m claimed and counting
- Industry leading specialists
- In-house technical, costing and tax experts
- Member of the Research and Development Consultative (RDCC) committee
Meet some of the team behind Tax Cloud