R&D Tax Credits for Accountants
Why Accountants should use us (Luvo Financial) to provide support on R&D Tax Credits….
The two partners of Luvo Financial, Vicki and Ian, are both experienced qualified Accountants and have worked on both sides of the fence in the not too distant past i.e. in practice and in senior roles client-side in industry.
We fully appreciate that practicing Accountants have literally hundreds of things that they interact with / advise clients on, and recognise that Accountants cannot possibly be experts in each and every one of these areas.
R&D Tax Credits is a niche / specialist area, and our conjecture / firmly held belief is that astute Accountants who don’t already employ in-house R&D Tax specialists within their Tax Departments should utilise the experience of an independent specialist to support in this area – someone like ourselves, Luvo Financial!
Luvo Financial are truly independent and have extensive experience of R&D Tax Credits; we get a significant proportion of the support work that we undertake via referrals from Accountants; and as is noted elsewhere on this website, we also partner with Croner Taxwise in offering advise and support with claiming R&D Tax Credits to their client Accountants and thereby their clients, under the banner of R&D:WISE. Just to be clear on this – this is a non-exclusive arrangement, and we offer similar support to an increasing number of other Accountants who aren’t currently clients of TAX:WISE.
As is the case with other independent specialist providers, we are happy to discuss the possibility of paying introducer / referral fees to Accountants (which in any respect often covers the cost of the small amount of work that they need to provide in supporting their clients in making claims) or indeed charging their clients slightly lower fees where Accountants choose not to take a share of our fee.
Accountants refer / introduce us to their clients (as R&D Tax Credit specialists), we keep them fully informed of what is proposed and of the progress that is being made in progressing a claim; claims are submitted by the Accountant (usually by re-submitting the client’s CT600 Tax Return) and we provide them with all of the information (Claimable Costs Summaries and Technical Justification Report) that need to be appended in order to do this; if necessary, we also show Accountants which boxes to complete / put numbers in, when making a claim for the first time.
We have recently become aware of a number of Accountants who have lost clients because someone else got in and supported one of their clients in making a successful R&D Tax Credits claim, and then persuaded them to give them the rest of the accountancy / audit work for good measure ~ not at all good, and something that most Accountants will be very keen to avoid.
So there are clearly a number of good (both proactive, reactive and pre-emptive) reasons why Accountants should consider using an independent R&D Tax Credits specialist (ideally one with a proven 100% claims success record), to help them support their clients in making successful / worthwhile R&D Tax Credits claims…. indeed, someone just like Luvo Financial !!!
Please get in touch #justaskluvo, we’ll be delighted to phone you about this, or better still pop over and discuss this with you (on a no initial commitment basis) over a coffee….