Many SMEs find that the claims process for R&D tax credits can feel complicated, time-consuming, and opaque. R&D tax relief is worth up to 28% of your R&D expenditure, but accessing your entitlement is a challenge even for those familiar with the scheme. That is exactly what Tax Cloud is built to solve.
In this guide, we walk you through exactly how Tax Cloud works, what it costs, and why it’s the fastest and easiest way for UK businesses to claim their R&D tax credits.
What is Tax Cloud?
Tax Cloud is an online platform developed by Myriad, one of the UK's leading R&D tax credit specialists. It guides you through the process of preparing your R&D tax credit claim by combining an easy-to-use online platform with expert review from qualified R&D advisers. You get the accuracy and compliance of a professional service with the speed and convenience of a digital tool.
Compared to traditional consultancy options, Tax Cloud offers significant fee savings. Tax Cloud’s fees range between 2.5% and 5% depending on the size of your claim. Our transparent pricing policy means you’ll always know what you’re paying for, with no set-up fees ad no long-term contracts.
Tax Cloud is designed specifically for UK SMEs and startups. Whether you’re making your first ever R&D claim, or you have been claiming for years, Tax Cloud gives you a simpler, more efficient way to do it.
How does Tax Cloud Work?
The Tax Cloud process is designed to be as simple as possible. Here is what happens from start to finish.
Step 1: Create Your Account
Getting started takes just a few minutes. Sign up on the Tax Cloud website, enter your company details, and you are ready to begin building your claim. The Tax Cloud team will be in touch to review your eligibility and get you started with the platform. We’ll also check to see if you need to submit an Advance Notification Form (ANF).
There is no fee to get started; you only pay when your claim is submitted.
Step 2: Tell Us About Your R&D Projects
Tax Cloud guides you through a series of questions about your R&D projects. You don’t need a technical or tax background to complete this section; the platform prompts you with plain-language questions about what scientific or technological advance your team was trying to achieve and what technical challenges you faced.
Get your R&D team to enter their project details directly in the platform by setting up Tax Cloud’s user permissions. With Tax Cloud, your technical team can only access the project details, but not the finance part of your claim. This means you can get your R&D activities straight from the horse’s mouth.
Our R&D tax experts will review your project details to ensure they qualify. If they need more information from you, they’ll leave you a comment or get in touch to discuss your projects in more detail.
Once your projects have been approved, the next stages will unlock and you’ll be able to proceed with the rest of your claim. It’s only once our team has confirmed that you have qualifying projects that you commit to Tax Cloud; if your projects don’t meet HMRC’s criteria, there’s no obligation or fee.
Step 3: Enter Your Qualifying Costs
Next, you enter the costs associated with your R&D activities. Tax Cloud walks you through each cost category that qualifies under the UK's R&D tax credit scheme, including:
- Staff wages and salaries
- Subcontractor and externally provided worker costs
- Consumables, materials, and utilities used in R&D
- Software licenses, cloud computing and data costs
- Clinical trial volunteers
- Once you’ve entered your costs, you can apportion them to each project.
HMRC considers contemporaneous timesheets the gold standard for apportioning your staff time, but estimates are also acceptable. Tax Cloud has a timesheet module that allows you to prepare more accurate estimates for your team’s time spent on R&D.
Our tax associates will review your costs and apportionments to check they’re acceptable to HMRC.
Step 4: Write Your Technical Reports
Once you’ve finished entering your R&D costs, the full technical report unlocks. Part of your R&D tax credit submission requires specific details about your R&D projects, including descriptions of your R&D activities. This is your chance to explain what you did and why it qualifies, as well as prepare your evidence in case HMRC asks.
Your leadership team, finance team or technical team can write this out; this is your chance to prove your R&D is eligible. Like with all steps, our team reviews your work and makes sure it’s up to scratch.
Step 5: Submission and Payment
Once your claim’s been approved by our team, it’s ready for submission.
Our tax experts prepare all the relevant documents, including the Additional Information Form (AIF) and your Corporation Tax return (CT600), and send them off to HMRC. We’ll even follow up with HMRC to make sure everything is alright if there’s any delays.
HMRC aims to process R&D tax credit claims within 40 days of a correct submission. Our payment terms align with this timeline, giving you the best chance of managing your cashflow.
Step 6: Feel Secure in Your Claim
Here’s where Tax Cloud is different: our platform supports you even after the claim has been filed. If HMRC challenges your claim by opening a compliance check, we stand by your side and handle everything—for no extra cost.
We’ll deal with the correspondence with HMRC at every level until your claim is accepted. If HMRC decides to reject your claim, we repay our fees and even compensate you for your time. That’s support you can rely on.
Making Your Claim
Tax Cloud is an online platform that makes claiming UK R&D tax credits fast, simple, and accurate. The process takes you from project description to HMRC submission, with expert review at every stage.
Join thousands of UK businesses already using Tax Cloud to claim the R&D tax credits they are owed. Create your free account today and or get in touch for a demo.
Frequently Asked Questions About Tax Cloud
How long does it take to complete a claim?
Most users complete the initial input stage in a few hours, depending on the number of R&D projects and the complexity of their costs. The expert review typically takes a 1-2 working days. From start to submission, most first-time claims can be completed within two to three weeks.
However, Tax Cloud is entirely self-guided and self-paced. Don’t have the time to prepare your claim this month? We’ll be here when things ease up. We’ll also follow up with you regularly to make sure your claim doesn’t slip off the radar.
Do I need an accountant to use Tax Cloud?
No. Tax Cloud is designed so that business owners and finance managers can complete the process without specialist tax knowledge. However, if you already work with an accountant, they can be involved at any stage, and the platform makes it easy to share access.
Can I use Tax Cloud to claim for previous years?
Yes. You can submit R&D tax credit claims up to two accounting periods in arrears. If you haven’t claimed before, Tax Cloud can help you build retrospective claims.
What does Tax Cloud cost?
Tax Cloud operates on a simple, transparent fee model: 5% of your tax savings up to £200,000 and 2.5% on tax savings thereafter (subject to a minimum fee of £2,750 + VAT).
There are no upfront costs, and you only pay once your claim is successfully submitted. The platform also includes unlimited access to expert support throughout the process.
Is Tax Cloud right for me?
It depends. Tax Cloud is built as a compromise for UK companies looking for the security of a full consultancy approach and the cost savings of a DIY claim.
If you want to save on consultancy fees by taking on some of the claim yourself, Tax Cloud can help you do this while being confident that your claim meets HMRC’s standards.
However, Tax Cloud isn’t right for every business.
Busy teams with lots of R&D projects may prefer to pay the higher industry rates to hand off the task of writing technical report after technical report. Similarly, projects with lots of complicated cost analysis across multiple connected parties, foreign costs and complex teams will likely fare better with hands-on intervention from a specialist adviser.
Some companies with smaller claims may even find that they can prepare their claim easily enough in-house without expert support, especially those who are familiar with the scheme.
It’s all about your team’s capacity, your projects’ complexity and your confidence in your claim. The good news is that Tax Cloud never ties you in for multiple claims; if it doesn’t feel right after your first claim, you don’t need to stick out long contracts.
If you want a demo of the platform before starting your claim, get in touch—we’re proud of our platform and would be happy to show you how it works. If it’s not a match, no hard feelings.
