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Yorkshire Times
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5:02 AM 17th November 2020
business

R&D Tax Specialists Boost Yorkshire Team As Demand Surges

Vicky Carathanassis
Vicky Carathanassis
Business advisory firm Grant Thornton has strengthened its Northern tax team with the recruitment of Vicky Carathanassis and Sophie Edwards, amid strong demand for its services.

Research and Development (R&D) tax specialist Sophie has moved from the firm’s Bristol office, while Vicky, has joined the firm from an R&D tax consultancy based in London.

Grant Thornton, which has a Northern tax team of around 150 based across its offices in Manchester, Liverpool, Leeds, Sheffield and Newcastle, advises businesses across every sector, from dynamic SMEs, mid-market companies, listed corporates and international groups.

Rachel Engwell, Partner and Head of Tax for the North, said there are two factors driving demand.

She explains: “Firstly, R&D tax relief is a valuable, cash generating relief which remains under-claimed. The recent challenges faced by some businesses due to the pandemic have been a catalyst for them to ensure they manage their cash as effectively as possible; we have been working with businesses to accelerate and optimise the R&D tax relief they are entitled to in order to support this. Secondly, we are seeing increasing numbers of companies are claiming the R&D tax credit as they innovate and invest in digital products and services – something that’s been a clear trend nationally, but particularly in the North, and evidenced by the growth in fin-tech and e-commerce. Having appointed a new tax partner, Dan Dickinson, during the first lockdown, it’s great to be continuing to invest in our market-leading Northern team with the appointment of Vicky and Sophie.”

Vicky Carathanassis added: “I am incredibly excited to be joining the firm. Grant Thornton has an excellent reputation in the marketplace as being entrepreneurial and proactive in working with HMRC to drive value for clients. The firm’s dedicated national Innovation Group, which provides a comprehensive Innovation Taxes service to businesses, was another key pull-factor and I am looking forward to working with the team to further grow our increasing market share.”