How to Identify the Best R&D Tax Credit Consultants
Working with a reputable R&D tax credit consultant saves UK business owners the hassle of deciphering HMRC policy. But how can you be certain that the consultant you choose is equipped to handle your R&D claim? Today we’re sharing our top tips on how to identify the best R&D tax credit consultant, and how they can help maximise your claim for research and development.
Compiling a compliant R&D claim can be time consuming. Not only do you have to gather and review documents, but you’re required to understand HMRC policy.
This is why many businesses are choosing to entrust their claims to R&D tax credit consultants. But when an online search produces 100’s of consultants, how can you guarantee you’re choosing the right one?
Well with our top tips, you’ll be able to identify an R&D tax credit consultant that you can trust!
What’s an R&D Tax Credit Consultant?
An R&D tax credit consultant (also known as a research and development tax advisor) is a specialist in R&D tax relief and the associated HMRC policies.
It is an R&D consultant’s job to collaborate with their client, so that they may compile and submit a claim that adheres to HMRC policy and tax regulation. They do this by:
- Confirming eligibility
- Identifying qualifying activities and costs
- Gathering relevant documents
- Writing reports that support the claim
By specialising solely in the R&D tax credit relief, consultants are able to approach claims process with a confident understanding of what qualifies for the relief.
What’s more, they have a working knowledge of HMRC’s expectations. This means they can share the necessary information clearly and briefly.
How an R&D Tax Credit Consultant Can Help With Your Claim
A reputable R&D tax credit consultant will use their knowledge to produce compliant claims that are able to withstand scrutiny.
By applying their skills throughout the claims process, the best R&D tax credit consultants can maximise the value of a claim, while operating within the confines of HMRC compliance standards. They do this by:
- Assessing research and development related documents
- Recognising overlooked qualifying activities
- Identifying additional qualifying costs
On top of this, dedicated consultants will work with their clients to develop a technical report that presents the important details of the research and development project. While a technical report is a required document for an R&D claim, a consultant will know how to present the information so that HMRC can easily identify the technical uncertainty the client aimed to overcome.
When combined, the actions of an R&D tax credit consultant can prevent a claim from being issued an HMRC compliance check.
Why Choosing the Right R&D Tax Credit Consultant is Important
Choosing the wrong consultant for your R&D tax credit claim can have devastating effects on your claim entitlement and on future claims.
In recent months, R&D tax relief has been in the news as it was revealed that some agents were purposefully overinflating claims. Some even went as far as making up claims, only to ghost business owners when their claims were issued compliance checks.
Many businesses had to pay back the tax relief, while others suffered reputational damage.
That’s why choosing the right R&D tax credit consultant is important – not only does it protect your claim, but it protects your business.
How to Identify the Best R&D Tax Credit Consultants
Now that you know how helpful a consultant can be throughout the R&D claims process, you’re probably wondering how you can choose the right one to assist you with your claim.
Here are our top tips on how to identify the best R&D tax credit consultants for your business.
Evaluate Their Expertise
The ideal consultant should be familiar with your industry, as certain industries (such as biotech or manufacturing) can have unique qualifying activities and document requirements.
You can evaluate an R&D tax credit consultant’s expertise by:
- Confirming they understand scientific and technical aspects of R&D
- Requesting industry specific case studies and references
Assess Their Claims Process
A great consultant will be transparent about their process, and the level of support that they will provide throughout the claim.
You can assess an R&D tax credit consultant’s process by:
- Asking about their methodology
- Confirming they provide documentation support
- Confirming they provide assistance in case of enquiry
Understand Their Fee Structure
Many consultants will be upfront with their fee structure, and this will likely be included on their website or during initial consultations. Most consultants will charge a contingency fee, meaning they receive a percentage of the credit secured upon successful completion.
You can understand an R&D tax credit consultant’s fee structure by:
- Checking fees against industry standards
- Confirming there are no hidden costs for additional support
Check Their Compliance Record
A reputable consultant will have a history of compliance that showcases their rate of claim success. The amount of successful claims relates to compliance as it shows HMRC’s acceptance of their submitted claims.
You can check an R&D tax credit consultant’s compliance record by:
- Research their reputation for accuracy
- Ask them about their success rate and instances of rejected claims
Get the Best R&D Tax Credit Consultants with Alexander Clifford
At Alexander Clifford, we take pride in our ethical approach to R&D tax credits, ensuring every claim is accurate, compliant, and tailored to your business needs. It’s this dedication that earns us consistent 5-star ratings from our clients.
Our specialist team provides end to end support, carefully analysing your project to uncover qualifying activities and costs that others often miss.
With our meticulous approach and commitment to excellence, we’ve secured our clients over £83 million in R&D tax credit benefits. That’s what makes Alexander Clifford your trusted choice for R&D tax credits.
Ready to get started? Fill out the contact form below or book an appointment at a time that works for you.
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