Should you use your accountant for your R&D claim?

Perhaps an R&D specialist has suggested that your business may be able to claim some money back from HMRC, this sounds exciting but naturally you want to check this with your accountant first, so you ask them about it.

They say “oh we can do that for you, we know your business and we will charge you a lot less than the R&D company”

You’re a busy business owner, you trust your accountant, all in all this seems like the easiest option.

However, it is worth thinking why your accountant of many year who knows your business so well hasn’t suggested this to you before, but now all of a sudden is experienced enough to write your claim for you.

Some accountants will do a great job at writing an R&D claim and using your own accountant is certainly an option.  However, it is a specialist area and criteria are changing on a regular basis.

Common errors seen on claims submitted by inexperienced accountants.

-         Costs missed out on average 53% of costs*

-         Costs included which aren’t allowable.

-         Numbers made up/a best guess.

-         No supporting documents or written report sent to HMRC.

-         Claims submitted based on activity which doesn’t qualify under current criteria.

So, should you use your accountant for your R&D claim? Well would you use your GP for brain surgery?

At Research and Development Tax Ltd we are always happy to review any prior year’s claim or just have chat and offer you any advice. We are a trusted R&D provider for many reputable accountants in the UK

Vicky Newham 

[email protected]