7 Shocking Truths That Reveal The Danger Of Using Your Accountant To Make An R&D Claim | Part 2
Are you already claiming for R&D Tax credits? If you are, are you using a specialist or your accountant?
You rely on accountancy firms to be open and honest with you, we know this is shocking information but the truth is that they’re probably not.
Increasingly, we’ve been made aware of cases where accountants are being taken to court due to negligence and not making their clients aware.
Accountants becoming reactive rather proactive when R&D experts step in
If you're using your accountant, are you aware of potential dangers? One of the biggest dangers is, if a claim is challenged by HMRC, it's you and your business that will receive the fines, not your accountant.
Using an account is the same as a GP vs a specialist. A GP has a wide range of knowledge, but to really get the very best treatment you would go to a specialist. You’d never ask your GP to perform surgery?
Here at Recoup, we go beyond the industry norms to ensure all our clients are safeguarded against, chief of which is that all our claims are made through our chartered tax advisers name.
#4 OUR EXPERIENCE AND KNOWLEDGE IS PRICELESS
It is through the knowledge and experience gained over the last 20 years that our CTA’s are able to take a more comprehensive approach to your business, rather than focusing on one aspect or one project, thus enhancing the claim. Since the inception of the scheme it has been the job of the CTA's and sector specialists to build up intellectual property which enhances their knowledge around how businesses operate in each sector. By building this intellectual property it offers a fast tracked approach to identifying where the R&D activity sits, and allows us to make larger successful claims.
#5 OUR PEDIGREE IS IRREFUTABLE
Our panel of specialist Chartered Tax Advisers, many coming from ‘The Big Four’, have been working on R&D since the introduction of the scheme in the year 2000, and have between them undertaken over 4000 successful claims. Over such a long period it is inevitable that aspects of submissions will have been questioned, the solace to take from this is all have been robustly defended and successfully upheld and in cases increased. You might be questioning why we’d so freely admit this. That’s because each questioned case has been strongly refuted, backed up with a wealth of above-board procedural accuracy by our experts, proving our knowledge within this sector supersedes that of your average accountant.
To unlock a higher level of rebate and to ensure you don’t get into trouble for making a claim, you do need a specialist to look at this for you. There are plenty of software applications out there at the moment and even accountants are saying they can complete this work.
Well, they may be able to, but they will not be able to maximise your claim and safeguard you against HMRC. I generally go by the rule; you get what you pay for. There are always corners we can cut, but there is then generally a price to pay.
So to maximise your R&D claim, please contact us.