EQ Accountants hails £20m in tax credit wins for clients

Tax and business advisory specialist EQ Accountants LLP has hailed its claiming of more than £20 million of research and development (R&D) tax credits for clients in Scotland over the last nine years across a host of sectors.

EQ partner and R&D team member Rachel Bell. Picture: Alan Richardson.
EQ partner and R&D team member Rachel Bell. Picture: Alan Richardson.

The firm, which has offices in Dundee, Forfar, Cupar and Glenrothes, said it has secured 360-plus claims for innovative companies who have undertaken problem-solving activities to adapt or create new processes or products, “many of whom didn’t think they were eligible beforehand”.

EQ said it completes around 70 claims a year, and its seven-strong team of specialists has a 100 per cent success rate. Recent claims have included £106,603 for a textiles company, £86,760 for a food and drink producer and £553,767 for an IT software company. One of the firms to benefit from its services is Fife vegetable firm Kettle Produce.

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EQ also said such a cash injection can help businesses with their cashflow amid the impact of coronavirus. EQ’s R&D team has, while working remotely, completed 17 claims worth more than £1.4m and is processing another 16.

Partner and R&D team member Rachel Bell said the business has been helping an increasing number of clients secure major tax savings.“We still speak to many companies who… are missing out on this vital cash flow injection. I urge anyone, particularly given the current circumstances, if they have conducted a project seeking to create, improve or adapt processes or products, they have a strong change of qualifying and we will be happy to discuss.”

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