Your business probably already has an accountant. And maybe they do an R&D tax claim for you. So why would you look anywhere else? There are actually many reasons to work with an R&D specialist for this part of your business. R&D tax is a big part of many companies – and it could be for you. The UK government has set aside billions of pounds to reward companies that take a commercial risk in getting better at what they do.
Accountants are great at what they do. But tax is a complex area, feeling like it gets more complicated every year. We work with accountants to get you the best return from an R&D tax claim. Here are some of the things that you should look out for with a great R&D tax accountant.
You should really be looking for an R&D tax accountant that does nothing but R&D tax. The HMRC changes the rules all the time. The government has an influence here and dictates what areas they want investment to go in. The software industry is one in particular that sees the regulations alter year after year.
An R&D specialist accountant (one that does nothing else) will be on top of these regulation changes. At LUMO, we only do R&D tax. We stay on top of the regulations, so you and your existing accountant don’t have to. If reading through tax legislation is your kind of thing, then be our guest. There’s plenty of it on the HMRC website. If not, then leave it to us!
Taking the Strain
You have enough to do for your business. Adding the burdens of an R&D tax claim to the list is an unnecessary step. It would leave you with more work. It would take up more of your day. We see this all the time. One of two things happen –
- You end up working longer hours to get the R&D tax claim submitted
- You give up, thinking it’s not worth the hassle
We do all of the legwork for you, so you can get on with the important task of running your business. We only need a small amount of your time to get a fix on the R&D project and how it is eligible for R&D tax credits. From there, we will speak to your accountant, gathering information about the facts and figures. Oh, and for those that don’t think it’s worth the hassle, the average claim we submit on behalf of our clients is over £35,000.
A Track Record of Success
A great R&D tax accountant is one that can back up their claims with figures. You want to work with someone that will maximise the claim and make the whole process as easy as possible for you. This will give you the peace of mind that this part of your business is being taken care of. Don’t take a risk with something as potentially lucrative as R&D tax credits.
Here at LUMO, we have a 100% success rate with the tax man with R&D tax claims. We have been doing this for a number of years and always hit the spot. We are so confident of our ability here that we don’t charge you a penny until the claim is safely back in your business. No win, no fee.
Attention to Detail
If you are going through the process of making an R&D tax claim, then you want it to be for as large a sum as possible. That’s why you should look for an R&D tax accountant that has an attention to detail. That is to ensure you maximise a claim. We see far too many claims that have been undercooked. Don’t put yourself in that situation.
It takes an analytical mind to see all of the potential areas for an R&D tax claim. We have honed these skills over a number of years so that we can help businesses like yours. The attention to detail that we bring with us every day of the week means we leave no stone unturned.
If you want to know more about R&D tax claims, then get in touch. We will answer any of your questions and help you understand what it means to you. It doesn’t take us very long to assess your business and let you know of you have a claim waiting to be submitted. From there, we’ll do the legwork for you.