Advisory Services

Investor Applications

Most start-ups need funding in order to operate. It’s no secret that the more funding you get the more likely it is that your company will succeed.

Investors not only give funds to your company – they can also open doors by introducing you to important contacts which could lead to critical business deals. But applying for funding is a time-consuming task. There are application forms, pitch decks, pitching and then post-offer reviews to consider.

It is a necessary evil.

Help is at hand however – First Accounts can help you secure funding for your start-up. We have experience in applying for investment from investors like NDRC, Enterprise Ireland and the Bolton Trust. We can help you perfect your pitching skills and even go to the pitch with you as your company’s interim CFO.

Grant Applications

There is a plethora of grants and schemes available to startups. Grants available include the Local Enterprise Office (“LEO”) Priming Grants or Innovation Vouchers. Tax schemes aimed at startups include EIIS and SURE.

First Accounts can complete these application forms for your business. From experience we know if your company qualifies for a grant/scheme. We also know exactly what you need to do to win grant/scheme funding.

Tax Refunds

When you start a company, there are many reasons why you can reclaim taxes that you have paid, or get money for other reasons, such as:

At First Accounts we have researched how these schemes work, how to apply for them, and how to test for eligibility. Find out more by searching through our helpful articles.

What qualifies as R&D activity?

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Knowledge extension

Your R&D has extended overall knowledge or capability in a field of science or technology

New creations

You developed a process, material, device, product or service which incorporated or represented an increase in overall knowledge or capability in a field of science or technology

Improvements

You made an appreciable improvement to an existing process, material, device, product or service through scientific or technological changes

Science and Tech

Used science or technology to duplicate the effect of an existing process, material, device, product or service in a new or appreciably improved way (e.g. a product that has exactly the same performance characteristics as existing models, but is built in a fundamentally different manner), will also be considered R&D.

Frequently Asked Questions

Which expenses qualify for R&D tax relief?

Many first-time claimants find it difficult to identify the activities and costs they incurred in the last two accounting periods. Our R&D experts ensure all qualifying activities and expenditure is identified in order to maximise the claim. It is important to note, not all R&D related expenditure qualifies for R&D.

In order to claim R&D tax credits, you must have incurred revenue expenditure in relation to qualifying R&D activity. The following categories of expenditure can be included:

Staff Costs: Cost of directly employing staff who are actively engaged in R&D activity. Includes: PRSI, pension fund contributions, bonuses and (if applicable) payment to subjects involved i.e. for clinical trials.

Externally provided workers and subcontractors: Cost of paying a staff provider for staff provided to the company, or a sub-contractor who is directly and actively engaged in carrying out R&D activity.

Consumable Items: Consumable or transformable materials used directly in carrying out R&D.

Software: Revenue expenditure incurred on computer software employed directly in R&D.

Utility Costs: Power, water and fuel used directly in carrying out R&D.

Why would my business need these services?

There are many reasons, but there are two vital ones:

  1. Out of necessity: in order for your business to continue, you will need to apply for these extenuating forms of finance. They are completely legal and available for your business, so nothing to be worried about.
  2. It’s better for businessand the economy: if your business is successful because it had the cash to invest in the right things at the right time, then it will bring employment and create growth in the economy.

Can I get help with grant aid and investment if I’m not an accounting client of yours?

Of course! We are only too glad to help with this – book a discovery call.

We also have a helpful YouTube channel with handy tips on how to test eligibility and apply for all the schemes available to your business.

Is it difficult to get funding this way?

It certainly can be, but it really depends on your what your business does.

At First Accounts, we will assess how long it will take based on a variety of factors, which will need to find out by discussing your business and investigating with your current accounting.

Who will process the claims?

One of our experienced, qualified accountants will take care of your grant, investment and tax refund claims. They are quick, efficient and know everything about our system setup so you can be sure everything is taken care of.

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What Clients Say about First Accounts

Marta Adamska

(nutrition-4health.com)

June 20, 2020

Thank you!

I’ve found working with First Account the perfect find for all of my company needs. Mark is extremely professional, knowledgeable and helpful. I have been struggling with pricing in my business for a long time, so working with Mark help me not only to organise prices for my work but now, I can sleep at night knowing my business is going to survive. I couldn’t recommend First Accounts more enough as the perfect support for your business, support with extremely approachable and professional manner.
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Henry Thomas

(soundact.co.uk)

Apr 9, 2020

Helpful guidance, advice and support

Colin and Mark are thorough, helpful and generous with guidance, advice and support. They’ve helped us streamline our accounts systems and provide invaluable reporting on the performance of our business.
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Deirdre Lyons

(examfly.com)

June 19, 2020

Very professional offering with bonus of strategic advice

I found First Accounts very professional and competent to deal with. I came to Mark with last minute queries from time to time and he always dealt with them in a quick and professional manner. Mark has also been a great source of strategic advice to my business as it grows.