Dow Schofield Watts expands with launch of R&D tax relief service

Financial advisory firm Dow Schofield Watts (DSW) has expanded its tax practice with the addition of a new service to advise on R&D tax relief and other innovation tax incentives.

It will be led by Shenal Wijetunge, who joins from Signature Group and who has ten years’ experience in R&D tax advice, having previously worked in innovation roles in industry. The new service is the latest in a series of additions for DSW including the acquisition of Lancashire-based tax specialist STS Europe last September and the launch of DSW Principal Partners in February.

Shenal Wijetunge

Shenal, who has a Masters in Sustainable Chemical Engineering, started his career working in hands-on R&D roles with Reckitt Benckiser, Heinz and pharmaceutical manufacturer Curia Global (formerly AMRI), helping to develop and implement new products and processes. Since becoming an R&D tax adviser, he has worked with EY and KPMG and helped businesses claim millions of pounds in tax relief.

In addition to R&D tax relief, he also advises on Patent Box and Land Remediation Relief.

Shenal says: “R&D tax relief is not restricted to a particular sector and can be a real benefit for businesses. However it is a highly complex area and the rules have changed in recent years. Companies can be assured that they will receive compliant, robust and regulated advice from our experts liaising closely with HMRC and who are fully abreast of the evolving agenda.

“The attraction of DSW was hugely compelling. It has the profile and full-service capability clients expect. With my knowledge, expertise and network I am really looking forward to working with the existing Partners, Dave Waddington and Andrew Robinson, in driving the business forward.”

James Dow, CEO of DSW Capital said: “The new R&D tax service is the sixth addition to our services in nine months and follows on quickly from the launch of DSW Principal Partners in February. We have been very consistent in our goal to expand our network with the addition of complementary service lines. DSW Innovation Incentives has a strong synergistic fit and will further enable us to grow our national and international footprint.”