Leading international R&D tax firm, Swanson Reed, today launches its innovative new TaxTrex software in Ireland. Developed following extensive academic research, TaxTrex helps businesses to monitor and document their R&D tax relief claims. Using a simple survey system, companies can ensure they keep up to date with all documentation needed, so they are fully prepared when the time comes to make a claim.
“TaxTrex promises to revolutionise the way Irish companies track their R&D tax claims, saving them time and money,” said Sophie Mercer, Tax Principal at Swanson Reed. “Using our new software, companies will complete three surveys throughout the year which document the scientific process as it occurs. The information from these surveys is extracted, time-stamped and securely stored within TaxTrex. It serves to clearly illustrate the purpose of all activities, and can be used at audit time to help defend a tax claim,” she said.
82% of accountants currently believe that it’s too risky to prepare R&D claims without specialist assistance. With the help of TaxTrex, they can now be empowered to prepare and document these claims themselves in-house. Benefits and features of the software include: risk assessment based on a unique Swanson Reed algorithm; automated surveys; time-stamping; tiered access for all levels of the business; secure storage of documents; and visual representations of R&D activities.
Swanson Reed is a global leader in tax advisory services, with a strong track record in helping companies claim R&D tax credit. Its experience and industry knowledge means it has specialised expertise in managing the claim process. Its team of best-in-class tax accountants boast an intimate knowledge of the innovation industry, and can identify every last cent that may be eligible for a tax rebate.
For further details on TaxTrex, please visit https://taxtrexsoftware.com/ie/en/.