A&M Taxand launches R&D credits service line in the UK

With businesses looking to tap into a rich vein of incentives for innovation in the UK, Alvarez & Marsal Taxand, has launched a new R&D credits service for clients. The new offering will be led by former Big Four R&D expert David Byrne, who joins the firm as a Senior Director.

As Brexit looms over the horizon, the UK is on the brink of a number of potentially game-changing alterations to its tax regime. Amid a cloud of uncertainty – as the alleged deal struck by the UK and the EU still looks almost certain to fail to gain Parliament’s approval – many businesses are still in the dark about how best to prepare for the coming upheaval. As a result, tax advisory consultants are currently preparing for heavy demand in 2019.

Part of this demand will certainly relate to Research and Development (R&D) tax credits. With nearly 14,000 patent applications filed in 2016 alone, the UK is evidently keen to retain its reputation as a hub of innovation in order to insulate its economy from the negative impacts of Brexit. To that end, the UK Government is placing a growing emphasis on future inventions with incentives such as HMRC schemes, including Patent Box and the R&D tax credits regime. The bid to boost creativity seems to be paying dividends, as well, with a wide array of cities in the UK leading the charge.

Alvarez & Marsal Taxand is an independent tax group affiliated with global professional services firm Alvarez & Marsal (A&M). The firm consists of experienced tax professionals dedicated to providing customised tax advice to clients and investors across a broad range of industries. A&M Taxand’s professionals extend A&M’s commitment to offering clients a choice in advisors who are free from audit-based conflicts of interest, providing services from offices in major metropolitan markets throughout the US, as well as in the UK from its base in London.

In anticipation of heightened demand in the UK relating to R&D advisory work, A&M Taxand has expanded its practice in Government incentives through the launch of an R&D Credits service line. The launch reflects A&M Taxand’s continued growth at a time when tax rules, and related regulations, are in flux, while clients are seeking experienced tax experts free from audit conflicts. The UK launch also supplements A&M Taxand’s existing R&D expertise in its US business.

As the R&D service launched, experienced industry hand David Byrne has been appointed as Senior Director, to lead the new offer. His installation follows the appointments of Keith Thomas and Jason Clatworthy, who were appointed as Managing Directors towards the end of last year. The pair will spearhead A&M Taxand’s work with major corporates and infrastructure clients respectively. Byrne will similarly be based in London, working alongside A&M’s senior practice leaders including Richard Syratt, who leads Transfer Pricing at A&M Taxand Europe.

Byrne commands a wealth of R&D expertise regarding UK and international corporates, with a focus on financial services and technology-oriented clients. He was most recently a Director with Deloitte in London, leading the Big Four firm’s UK R&D tax studies across multiple industry sectors. Before this he spent two years with EY as a Senior Manager. At the same time, he brings two decades of experience as a computer scientist leading global infrastructural and application development programmes, which A&M Taxand anticipates will place Byrne well to help clients prepare efficient and robust R&D claims with HMRC.

Commenting on the launch of his firm’s new offering, Managing Director and Head of A&M Taxand Europe Marvin Rust, said, “R&D spending has consistently grown in recent years as corporates look to reap the rewards that technology can unlock. In helping clients to benefit from the tax incentives that are available, we will enable them to invest even more in innovation. We are fortunate to have an accomplished R&D professional in David to spearhead this new service line. His diverse experience across both the technical and tax advisory sides will be of great interest to our corporate clients.”