R&D Tax Credits for Accountants | Innovation Plus

R&D Tax Credits for Accountants

Many accountancy firms or small tax advisors are financial specialists but not science or technology specialists and are not sure if the work that their clients do will qualify for UK R&D tax relief.

As such they frequently rely on the clients determining whether or not they qualify, and to what extent, but often the clients will also not know whether their work qualifies under the tax definition of R&D and valuable relief goes unclaimed. Alternatively clients may overstate the amount of eligible activities and leave themselves open to up to 33% penalties for careless errors.

As well as our R&D tax knowledge and experience of what qualifies, with our scientific and engineering backgrounds, we are able to readily ascertain the maximum eligible amounts that can be claimed under the legislation

Potentially any of your clients that employ scientists, engineers or software developers can make a claim which can allow SMEs (EU definition) to deduct 230% of their R&D costs against profits or if loss-making to receive a tax credit of up to 33% of their R&D expenditure. Large companies can deduct 130% of their R&D costs against profits, a net benefit of 6.3% for a 21% tax payer or receive a cash benefit of 8.8% under the RDEC scheme.

Benefits for our referrers:

  • We pay a generous referral fee to other professional firms that refer clients to us for their R&D Tax Relief claims.
  • We keep you fully abreast of the claim progress
  • We ensure that your client is aware that you have proactively recommended specialists, demonstrating another way that you add value to them
  • You do not run the risk of your client either overclaiming for ineligible activities or underclaiming
  • We deal with any questions that HMRC may have regarding the R&D tax claim
  • You gain access to our expert team in the event of any R&D tax questions you may have

Unlike many other firms, we specialise exclusively in R&D tax relief and do not offer any other kind of tax or accounting services, and there is therefore no competition issue.

Why Work With Innovation Plus