Take a strategic approach
SPRK solves three significant problems for those accountants/R&D specialist advisors who are appointed to the panel of SPRK Approved Advisors (SAA).
SPRK demonstrates value for money, introduces new clients to them and collects their fees.
Demonstrable Value to your clients
Many clients view the preparation of R&D claims as expensive compliance work, we believe that using the right advisor is key to successful claims under the R&D tax credit regime. SPRK SAA’s can demonstrate that by using a SPRK Advance their clients are able to increase the size of their payable tax credit through reinvestment into R&D and look to stretch their innovation cashflow further.
Gain more referrals
SPRK’s refers clients to SAAs thereby taking the hassle and cost out of acquiring new clients. When SPRK is approached by potential borrowers they are told that their R&D refund claim must be completed, or at a minimum the work of their accountant must be reviewed by a SAA in order to meet the underwriting criteria for an advance.
SPRK refers to this as our “virtuous circle” and is a win for everyone. The client gets the majority of their refund much sooner, the SAA gets a new client and SPRK acquires a borrower.
SPRK can collect your client fees
Fee collection is a significant consumer of time and money for accountants and advisors. The SPRK loan documentation provides options for the collection and disbursement of the SAA’s fee either at the point of lending or at the point when HMRC pays the tax claim.
SPRK solves problems for the R&D companies, as well as accounting firms/specialist R&D tax advisors who work with these companies.
- Access to funding to innovate and grow and stay ahead of the competition – banks won’t lend them money.
- Raising additional capital means diluting their shareholding in the company they’ve worked so hard to build.
- Time means money and is precious. They want to spend their time working on their R&D not raising funds.
- Many accounting firms are wanting to break into the SME segment more aggressively – they are seen to be intimidating and expensive by many SMEs.
- Client acquisition is expensive and time consuming for accountants.
- Collecting fees is expensive and time consuming for accountants.
- We look at what constitutes security differently to the way banks do. The refund from HMRC is what we see as our primary security.
- SPRK can increase spend or reduce the need to raise more dilutionary capital.
- Accountants can also add value to their clients through this strategic solution.
- SPRK is a fully digitised and frictionless experience.
- SPRK is the unique proposition to engage with this audience.
- SPRK refers new clients to accountants and can collect your fees.
It’s easy, and convenient.
We’re passionate about supporting businesses who are brave and bold in staying ahead of the curve; and who are
creating economic growth and opportunities for our country.
Complete the form below and our team will be in touch to discuss our solutions for accountants and advisors.