It can be all too easy for small and mid-sized accountancy firms to believe that offering top-quality research and development (R&D) tax services is beyond reach.
After all, how will you manage to provide such a niche, specialist service with limited staff, money, and resources?
However, while larger firms have the advantage of size and scale, this doesn’t necessarily translate to a better service.
With the right support, smaller accountancy practices can provide an exceptional R&D tax offering, helping to strengthen existing client relationships.
Working with a specialist R&D provider such as randd uk will enable your practice to offer top R&D tax relief services that won’t leave you overstretched or over budget.
The myth of sizable in-house teams
There is a prevailing myth that your R&D tax service has to look or operate in a certain way, and that your practice has to be a certain size to be successful.
Many firms would like to offer R&D tax services but don’t have the resources to bring someone in-house, or perhaps they have an interest from their clients but not sufficiently to warrant an in-house expert.
Bringing someone in-house often works well for larger national and international accountancy firms.
However, this isn’t the only way forward, and it may not be cost-effective for a smaller firm.
Working with a specialist R&D partner
At randd uk, we work with accountancy firms on a non-competitive basis, meaning we’re not encouraging their clients to come to us for other services or support.
As a specialist practice, we focus entirely on R&D tax and working well with our accountancy partners.
Often this involves partners referring clients to us directly to work on claims, but we can also provide advice via our partners’ tax teams – whatever works best for them.
This brings several benefits for smaller firms:
- Flexible and scalable services: Having an in-house R&D tax expert sounds great in theory, but what happens when your workload fluctuates? R&D tax claims tend to have peak and quiet seasons. We can provide on-demand, cost-effective services that adapt to your varying R&D tax workloads.
- Up-to-date knowledge: We stay up to date with the latest changes and developments in R&D tax relief, so you can rest assured that you’ll never be caught out by new complex rules.
- Specialist expertise: By bringing in a dedicated expert, you’re not just improving the quality of the service you provide to clients, but you’re also reducing the risk of errors and missed opportunities. We know exactly how to maximise your client claims whilst staying compliant with HM Revenue & Customs (HMRC).
- Saved time: With randd uk taking care of your R&D tax claims, you’ll be able to dedicate more time to client facing work and enhancing the client experience.
Working with a specialist advisory R&D tax firm like randd uk is a highly effective way of offering a top-quality R&D tax service to your clients.
Why offering R&D services is important for smaller firms
R&D tax services bring value to your practice by providing another service line that boosts your fee income.
However, just as valuable is the opportunity to deepen your existing relationships with clients.
Working through the R&D process to establish whether a project is eligible for R&D tax relief is highly valuable to your client, whether or not a claim can be made.
Offering R&D tax services can also be a great step in diversifying your service portfolio further.
Once you’ve successfully helped a client with an R&D tax claim, the door opens for more advisory services, financial planning, and other specialised financial services.
This paves the way for the lasting client relationships that will help you grow your practice.
randd uk: The perfect partner for small firms
Many accountants lack the specialist knowledge and expertise required to prepare accurate R&D tax relief claims, which can put off smaller firms from offering R&D tax services.
Whatever the size of your practice, we can help you claim back thousands of pounds for your clients.
By working with us, you’ll be able to offer a top-quality R&D tax service without breaking the bank.
Our specialist R&D tax consultants have a wealth of experience in preparing and submitting successful R&D tax claims, so you can rest assured that your clients’ cases are in the best hands.
We conduct a thorough and rigorous process to make sure all claims are 100 per cent accurate and will stand up to HMRC scrutiny.
We’ll continue to work with you after a claim has been submitted, handling all correspondence with HMRC and defending a claim against enquiries.
