AAB Group growth continues with acquisition of R&D Tax Credit specialist

AAB, the tech-enabled business critical services group, has today announced a key acquisition to expand its R&D Tax Credit services offered across the UK and Ireland.

May Figures Ltd is an Institute of Chartered Accountants in England and Wales (ICAEW) regulated professional advisory firm and specialist provider of R&D Tax Credit advice. Established in 2013 by Julia May and Dr Mark Graves, the firm has grown across the UK, building a successful track record delivering over 3,500 successful R&D Tax Credit claims.

This service includes assessing eligibility, preparing financial and technical reports, maximising tax savings and cash rebates through tax planning initiatives and advising on optimum client supplier and customer contracts. The firm manages the entire process, from inception to filing with HMRC.

The highly specialised team at May Figures Ltd comprises Oxbridge PhD computer scientists, engineers, chartered accountants and chartered tax advisors, all of whom support a range of clients from tech start-ups to AIM listed groups and multinationals. May Figures Ltd’s specialist tax focus, coupled with its in-house technical and patent law-qualified team, delivers a level of expertise rarely available to SME clients. This year alone the firm has filed R&D claims worth more than £12 million on behalf of clients to date.

May Figures Ltd will continue to trade under its current name but will become an AAB Group company with immediate effect.

Following investment from August Equity 12 months ago, AAB Group has been building strong regional hubs across the UK and Ireland, with businesses who share the values and culture of the AAB Group. The acquisition of May Figures Ltd, for an undisclosed sum, is another significant step forward in building AAB’s reputation as a diversified business critical services group dedicated to helping clients achieve their goals.

Derek Gemmell, Partner and Head of Innovations Tax at AAB commented: “The group has grown rapidly this year, and with that growth we have seen an increasing number of our clients seeking support and specialist advice in R&D Tax Credits. I know our team will look forward to getting to know everyone at May Figures and welcome them as part of our expanded R&D team here at AAB.”

Neil Dinnes, Partner and Head of Corporate & International Tax said: “We are delighted to welcome the fantastic May Figures team to the AAB Group. This acquisition will strengthen our overall tax proposition by bringing specialist advice and advisory services to our clients across the UK, Ireland and internationally.”

Julia May, Founder of May Figures Limited added: “Joining AAB Group is a perfect fit for us as we have shared values in a number of key areas including client prioritisation, excellent service delivery, work ethos and team support, training and progression. I am delighted that May Figures will continue to lead the R&D tax credit technology start-up industry as an AAB Group company.”

AAB Group employs more than 650 people across 10 locations in the UK and Ireland. There are currently opportunities for specialists to join the Corporate Tax team at AAB Group across the UK and Ireland.