Do you need an R&D tax credit advisor?
So way back in the year 2000, the UK government launched the Research and Development Tax Credit Scheme. Now at that time if you were looking for an R&D expert, then you would be lucky to find one who actually understood as HMRC were still trying to work it out. Thankful in 2020 you have many companies wanting to write and submit your R&D tax credit claim. The real question is how do you go about finding the right one for you?
Should I Get an R&D Advisor?
You can fill out everything yourself and send it off to HMRC. The question is, should you? Do you have the time to? Do you have the confidence and skills to make sure everything is completed up to standard? As the R&D tax credit is becoming a much more reliable and important source of cash flow for companies in the UK, we know how important this can be for the survival of your business. A claim that has not been vetted by someone with a lot of experience could also end up in an enquiry. Having to deal with HMRC enquiry is not something you or your company should have to go through, similarly, homebuyers struggling with a mortgage and becoming in need of advice. Add to that the fact that your claim could be the subject of a revenue audit up to five years after the year in which the R&D activities took place, you can see why it may be best leaving it to the experts.
What About When My Claim Size Increases?
When it comes to an increase in claim size, it can seem daunting to have R&D providers have a percentage success fee. But when the stakes are higher and a lot more money is involved, wouldn’t you want to make sure that the job is done correctly? Small claims are less likely to grab the attention of HMRC, but a larger claim will definitely put you on their radar. Having a qualified advisor compile, file and potentially defend your claim can mean the difference between having 6 months of the runway or 6 months of anguish explaining to HMRC how you encountered some problems along the way.
What Does HMRC Think About R&D Tax Credit Advisers?
What does the HMRC team really think about R&D Tax Credit Advisers? Well according to our findings the HMRC team respond very positively to the use of R&D specialists and tax credit advisors. Using accredited advisors is highly recommended than performing your own tax credits. By using a specialist and tax credit advisor, it will allow you to receive a service that offers a higher professional practice.
Each practice operates under the guidelines that the HMRC has set out. You can be assured by using a specialist and tax credit advisor that you will be in good hands because advisers save you time by knowing the rules and what information is needed to be presented. The HMRC do hold accredited advisors to a much higher standard, rather than an independent individual company going it alone. This means that choosing a reputable adviser service (like us) is important. Trust the professionals and our years of experience in this field.
We recommend that you do your homework and see if an R&D advisor is right for you and your company. We can help determine if your activities are eligible for R&D tax relief and assist you in gaining the best results. We work on a no-win, no fee basis, so why not get in touch with our team for free today? Visit our contact us page or call us now on 0115 855 0960. You can also email us at firstname.lastname@example.org.