Accounting firm Grant Thornton is using an AI-powered decision-making platform to automate the assessment of Research & Development (R&D) tax claims, saving clients time and money in their dealings with advisors.
The Rainbird platform lets clients perform their own R&D tax assessments and, thanks to an in-built audit trail, produce evidence reports of their claims assessments for faster claims sign-off. Rainbird is designed to replicate human judgements and handle uncertainty and ambiguity as a human would. Because Grant Thornton is able to view the rationale behind each Rainbird decision, it can avoid processing risk-heavy claims and focus instead on ones that are more likely to be accepted by HMRC.
Grant Thornton Partner Earl Keddy said: “Assessing R&D claims can be a convoluted undertaking as there are so many factors to consider when determining whether or not it qualifies as R&D. By using Rainbird technology we’ve been able to harness the valuable background knowledge of our R&D specialists to automate the assessment process. It has two significant benefits: for our clients, it is a more intuitive way for data to be collected; and for our people, it frees up time to spend on value-added advice to our clients, which can have most benefit and be more rewarding.”
He added: “Early feedback from clients has been positive and we are now looking at other applications for this powerful technology.”