FEATURE may find they are dipping in and out of the process only a handful of times per year . As such , it is really important that the individual ( s ) responsible for preparing claims have access not only to technology but also support , even if that is just a sounding board for advice and guidance .
CLIENTS DESERVE THE BEST ADVICE AND WHO BETTER PLACED TO DELIVER THIS THAN THEIR ACCOUNTANTS ?
HMRC ’ s R & D tax claim information can be opaque in places , and the ability for an individual to tap into the knowledge and experience of a team that has been involved with thousands of successful claims is hugely valuable . The best R & D tax software on the market is designed by R & D tax experts with hands-on experience of R & D tax consultancy and a solid understanding of the scheme .
Deploying technology to support R & D tax service delivery in this way not only facilitates easy collaboration between accountant and client , it also makes data easy to analyse , allowing accountants to demonstrate the viability and worth of a potential claim with confidence and reassurance that the work being put forward meets HMRC expectations . Access to training and expertise alongside the technology enables accountants to build up experience and extend their trusted advisor status .
The other huge benefit of dedicated SaaS R & D tax software is the continual evolution of the technology to keep users within the boundaries of the scheme and up-to-date with the changes being introduced by HMRC . From risk mitigation measures to the offer of optional claim reviews prior to submission , technology provides robust support to give accountants additional confidence . It should also support the more comprehensive sign off process between client and accountant demanded by HMRC from April 2023 , ensuring the name and signature of both the advisor and a senior officer from the client are included in the claim .
Build confidence , access support , mitigate risk
For many accountants , it is unlikely that a significant proportion of their client base will be engaging in qualifying R & D activity and therefore
Critically , by producing a high-quality output every time an accountant uses such dedicated technology , they can be confident that they are minimising the likelihood of prompting an HMRC investigation . And , even in the event of an HMRC investigation being launched , the structured and consistent process ensures an accountant can be composed and assured in responding to any additional questions HMRC may raise , with the added back up of advice , guidance and support offered by the team of R & D tax experts .
Conclusion
As well as supporting their clients ' business success , accountancy firms have themselves had to consider how they will build more sustainable and profitable businesses in the future . Technology has become crucial to this process . Exploring new technology to add R & D tax advice to their services portfolio allows accountants to meet their goals of maximising efficiency , learning and being recognised as a credible professional by their clients . It also enables them to do so in a robust and repeatable way while remaining compliant with the introduction of new and any future changes introduced to the scheme .
There is no doubt that HMRC ’ s more rigorous approach to compliance within the R & D tax relief scheme will see advisors who push the R & D tax relief boundaries facing extra scrutiny and making way for firms committed to good practice to step up as the trusted advisors for their clients ’ R & D tax relief claims . Clients deserve the best advice and who better placed to deliver this than their accountants ? x
Mike Dean , Managing Director of WhisperClaims
www . intelligentcxo . com
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