Catax is working with the ACCA by joining the ACCA Marketplace in order to offer R&D tax credit and reclaim services to the clients of its 188,000 members
Since launch, Catax has generated £20,000,000 of tax relief for business owners through the identification of R&D tax credits.
London, 30 November 2016 – The world’s leading body for professional accountants, the Association of Chartered Certified Accountants (ACCA), today announced the new Marketplace offering with UK Research and Development (R&D) tax reclaim specialist, Catax.
Catax is working with the ACCA by joining the ACCA Marketplace in order to provide R&D tax credit services to the clients of its 188,000 members.
R&D tax credits are a valuable form of tax relief available to companies in every sector who are developing new processes, products, services or systems – or materially improving existing ones. They can be offset against a corporation tax bill or be claimed as a cash sum paid back to a company by HMRC.
But there is one problem – although companies are entitled to this tax benefit, very few business owners are aware that the activity they have carried out is eligible for this tax rebate.
HMRC figures show that less than 1% of eligible UK firms are making claims for R&D relief due to a lack of understanding and the sheer complexity of this area of tax, which means an enormous amount of potential tax relief is being lost.
In the past three years, Catax has saved its clients more than £20 million, with an average tax saving of £39,000 per client.
Crucially, RD Tax Solutions operates on a ‘results-driven’ basis, and only charges a fee once the tax benefit has been identified, meaning there is no financial risk and no up-front cost for business owners.
Chris Quick, Head of ACCA Media, commented:
‘‘We are delighted to be working with RD Tax Solutions as our marketplace partner for research and development specialist services. Given how critical R&D is for the future prosperity of the UK, they offer a highly relevant service to our members operating at the heart of the business world.’’
Mark Tighe, MD of Catax, added:
“We are thrilled to have become a member of the ACCA Marketplace with an accounting body as prestigious as the Association of Chartered Certified Accountants and will work with their members delivering sizeable tax benefits to their clients. R&D credits are a much overlooked area of tax relief among the UK business community and this partnership should help rectify this.”
Click here to view the ACCA Press Release