The world of R&D tax relief can be something of a wild west, and like the wild west, it’s home to many ‘cowboys’ – unscrupulous R&D tax consultants who see businesses as a source of easy income to be taken advantage of, rather than partners in innovation.
At Grantica, we’ve heard plenty of horror stories from clients who in the past have been put off claiming R&D tax relief altogether due to bad experiences with such agencies.
If you’re considering claiming R&D tax credits for your business, it’s essential to know how to spot the red flags that signal an R&D tax consultant is not trustworthy. Working with an unscrupulous agent can result in a negative experience and could leave you exposed in the case of an HMRC enquiry, without experts in your corner to back you up.
Here are the top five to watch out for:
- Lack of transparency: An R&D tax consultant should be open and transparent about their fees, process, and expertise. If they’re not willing to explain things clearly or provide evidence of their credentials, it’s best to look elsewhere.
- No clear plan: A reliable R&D tax consultant should have a clear and well-defined plan for how they will approach your claim. If they seem disorganized or unsure of what to do, it’s a sign that they may not have the necessary expertise.
- Lack of experience: Claiming R&D tax credits requires specialist knowledge and experience. Be wary of R&D tax consultants that claim to offer this service but lack the necessary credentials and track record.
- Unrealistic promises: Some unscrupulous R&D tax consultants will make unrealistic promises about the amount of tax relief you can claim. Remember, claiming R&D tax credits is a complex process, and the amount you can claim will depend on various factors, including your business size, industry, and type of R&D activity. If you hear the phrase ‘free money,’ it’s time to end the conversation.
- Pressure to sign quickly: A trustworthy R&D tax consultant should never pressure you into signing a deal quickly. If they do, it’s a sign that they’re more interested in closing the deal (and claiming their fee) than providing you with the most suitable service for your business.
At Grantica, we believe in putting our clients first, providing expert and trustworthy advice on R&D tax credit claims. Because of this, we can say – with full transparency and the evidence to back our claims – that we offer:
- Expertise: Together, our team of R&D experts and tax advisors offers our clients a deep understanding of R&D and tax relief regulations
- Experience: We have an excellent (and growing) track record of successfully handling R&D tax relief claims and HMRC enquiries for businesses in a wide range of fields. You can be confident that our team knows what they’re doing and can deliver results.
- Transparency: From the first meeting with our clients, we are 100% transparent about our fees and the claim process. We’ll always be honest about what we can and can’t do for your business.
- Communication: From the first step to HMRC’s decision, we’ll keep you updated throughout the process. We pride ourselves on being responsive to our client’s questions and concerns and are only ever an email or phone call away.
- Reputation: To date, we have a 100% success rate. Our clients are proud to recommend us and our reputation for honest, transparent, and reliable R&D tax consulting is rapidly growing.
Don’t fall victim to the ‘cowboys’ of the R&D tax relief world – contact us today to see how we can help you access the support you need to drive innovation in your business.