Accountants missing R&D trick, says Jumpstart

Accountants are missing out on clients who could be eligible for research and development (R&D) tax credits, according to an R&D specialist.

Jumpstart’s senior business analyst Paul Wigley spoke about opportunities at the IFA’s regional annual conference in Birmingham last week. 

During his presentation, Wigley said some practitioners may be overlooking industries where R&D is potentially applicable, due to it commonly being applied to scientific, technological or IT-related areas. 

"The challenge for us is to get accountants to understand the types of areas that could qualify for R&D tax credits. Most would look at this scheme and think if they haven't got a white labcoat the likelihood is they're not going to qualify.

"But as long as someone's...


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Salesmen or tax advisors?

secondhand_22 | | Permalink

The R&D salesmen are out in force again.  How much of the claim do you want?

Makes a change from the capital allowance salesmen I suppose.

Btw - I read an R&D report from a 'specialist' (specialist in the sense that is all they do, definitely not in terms of expertise I would suggest) that was completely templated and contained minimal bespoke wording.

Crucially it made huge errors such as a failure to look at the risk of work undertaken for others being subcontracting and whether that precluded a claim or meant only large scheme claim possible.

Still, the binding was nice.  Fee was bulky I hear.  I hope they don't get an enquiry.

One day I'll tell you all about the CA report that had 1 bespoke page out of 60.  That page broke down the costs into about 6 categories and took no account of integral features rules for more recent extension work.

I'm sure Senior Business Analyst Wigley is awesome at R&D of course.  Just talking about some others I've come across

R & D

BBS4TAX | | Permalink

Hi there


i am looking into the tax relief available for a few of my larger clients and would appreciate any feedback eg should i use a specialist or prepare the R & D file myself with the client's assistance ?


LMT's picture

agricultural r & d

LMT | | Permalink

ive been asked to find examples of successful agricultural-related r & d claims already submitted by companies by my employer, to help see if we have any clients we could help more in this way. have struggled to find anything. anyone reading this know of a good online source of info??