A few weeks after swooping for restructuring practice Kavanagh Fennell, Deloitte managing partner Brendan Jennings has struck a deal with specialist R&D tax practice Leyton to bring it under the Deloitte umbella.
Leyton Ireland is to merge its R&D tax credit practice to form Deloitte Leyton Consulting Ireland Ltd, a joint venture owned by Deloitte Ireland and the Leyton Group.
Established in Ireland in 2007, Leyton offers dedicated R&D tax credit services in the Irish market. The merger sees the formation of the most experienced R&D tax practice in Ireland. Deloitte Leyton's team includes highly qualified tax consultants, accountants, scientists, engineers and IT professionals, with in-depth knowledge and expertise in R&D tax credits.
According to Brendan Jennings (pictured): “Leyton's expertise and experience complement Deloitte's existing strong capabilities in this area. We believe the combination of skills in the two teams creates a market leading proposition for our clients.
“As the economic situation improves and capital is increasingly available to invest in R&D activity, companies need to ensure this spend is as cost effective as possible. Our team of experts is committed to working with companies to do just that as they lay the foundations of growth and expansion in their businesses.”
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William Garvey, managing director of Leyton, said: “Leyton was the first company in Ireland to offer dedicated R&D tax credit services and has assisted companies of all sizes and across all industry sectors. We're excited about working with Deloitte together and fulfilling the potential that this merger now creates.”
Leyton Consulting Ireland is owned by French company Thesee Sas. Its three director are Garvey, with an address in London, and Nicolas De Bayser and Francois Gouilliard.
In the year to June 2013, Leyton Consulting Ireland booked a loss of €76,000 and ended its financial year with a net deficit of €230,000. Financial statements prepared by Anne Brady McQuillans DFK showed year-end debtors of €6.6m while creditors amounted to €6.8m.
