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"Working with randd helps us make well-informed decisions with confidence"

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Author: Tom Mason

Wright Vigar is an established East Midlands accountancy firm, with offices in Gainsborough, Lincoln, Mansfield, Newark, Nottingham, Retford and Sleaford, as well as a base in London.

With a team of around 190 dedicated staff, the firm provides a diverse range of accountancy and advisory services, which includes a thriving R&D Tax Credits service for their clients.

Clients span a range of sectors, including a strong agricultural client base alongside family-owned businesses, SMEs, larger businesses and charities, as well as limited companies with overseas ownership.

James Sewell, Joint Managing Director at Wright Vigar, shares his thoughts on working with randd uk on building the firm’s R&D tax service.

Going it alone

There was a period when the firm carried out its own R&D tax advisory with some excellent in-house expertise, but confidence was sometimes lacking.

At times it’s perfectly obvious when something classes as R&D, but sometimes we’re left wondering ‘is that R&D or is something just doing something differently?

We’ve also had clients that have gone it alone in the past responding to spurious outfits claiming they can apply for R&D tax credits that we’ve help to step in when HMRC has launched an enquiry.

Making the move to randd

James first came across randd more than 10 years ago while working with a highly technical client at the firm’s Sleaford office.

Up until that instance, the perception we held was that, unless clients were doing something really useful or incredibly innovative and sustainable, they were going to struggle to qualify for R&D tax relief.

The spectrum was broader than we initially thought. We had a conversation with randd and met with Matt (Finance Director) at our Lincoln office. We shared a lot of common ground since we’re both Chartered Tax Advisers by trade!

He changed our perspective on R&D tax. It wasn’t just a sales pitch but a genuine service line which, we realised, could really benefit some of our clients in obtaining R&D tax credits.

From here, we started promoting R&D tax advice as a service.

Taking strides

While navigating this new service proved initially challenging, an ongoing relationship with randd and Wright Vigar onboarding an experienced Tax Director pushed the firm’s R&D tax practice in the right direction.

The randd team did a very good job.

Even if it’s simple things like being prompt with invoicing and communication, they keep us in the loop.

Clients have noticed this too. For example, one of the early clients I sent their way was one of a vitamin manufacturing outfit which started from a one-man band, now turning over something in the realms of £20 million. They don’t suffer fools gladly, and they got on really well with randd. It’s now a longstanding relationship.

It has always been positive feedback from clients. randd were also great when we were going through M&A activity and merging with other regional firms.

I’d say we now refer all our R&D tax relief work to randd.

Working with randd

We refer our clients directly to randd and are constantly impressed with their integrity and trustworthiness to be able to say what qualifies and what doesn’t.

Working with randd, we can stay in our zone of expertise around accounts and tax and refer our clients to the best people that can advise on their specialist area.

We’re finding that there are quite a lot of accountants that have shied away from any kind of proactiveness with their clients on R&D, mainly because of the HMRC inquiry ramp up, but also not feeling confident about offering that service.

That’s not us now. Ultimately, I trust them implicitly.

The Wright Vigar approach to R&D tax

Working with randd has provided Wright Vigar and its tax team with the opportunity to act in an advisory capacity, giving clients agency to make well-informed decisions with confidence.

We don’t make decisions for clients. We give them advice and help them to understand the purpose of R&D tax relief, encouraging and incentivising them to invest in innovation.

It’s a case of giving the client the opportunity to claim, and if we’re happy, and they’re happy, we can go ahead.

Some of our larger clients successfully reclaim major sums. We have one with an average of £400K on some of the most cutting-edge work. This is down to everyone being open-minded and working with the experts.

The industry has been tarnished a bit by unscrupulous operators, but, if clients are well-informed and they get the right advice, it’s great. randd tick all of those boxes for us.

Want to work with randd? Contact a member of our team today.