As part of InnoFund’s expansion into Ireland, we’ve been meeting with industry leaders and discussing the use of AI in Tax, specifically how it is affecting our clients and the wider accounting industry.
Simba Mareverwa, our Head of Consulting and Tax Compliance, was a panellist, and our Irish Lead, Kirsten Winsryg, was also in attendance. Thank you to Ben O’Sullivan and the Kreoh team for the invite.
Kirsten shared her thoughts on the topic “As an Irish resident who has spent the last ten years helping innovative Irish companies access Grants and R&D Credits, I’m disappointed to see the low uptake of accessible schemes by Irish companies when compared to the UK. Events like these are crucial to impart knowledge on funding schemes to a wider audience for the benefit of Irish businesses, Irish innovation and the overall economic landscape in Ireland.”
“After hearing the panellists speak and chatting with other attendees, the event has confirmed my view that AI products are a fantastic tool for R&D tax credits but will never replace having a specialist advisory consultant signing off on any claims submitted to Revenue. That human experience and expertise cannot be replaced! In my opinion, the personal touch, step-by-step communication and comfort imparted to clients seems to be lacking with many R&D claim advisors. Using AI tools should give advisors more time to spend on the individual client projects rather than just enabling the mass production of generic claims, though using Kreoh would at least increase the quality of those claims! I know my altruistic mindset is not shared by a lot of accountants and tax professionals, but I believe it can be incorporated into successful business models for innovation funding.”
If you have a question about innovation and the funding available to you in Ireland, speak to our Ireland team.
