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R&D Advisor – Why should you choose us?

 

As a team of two, we have saved our clients over £18.5 million pounds in Tax Relief over the past 6 years, and as a recent article by James Geary highlighted, claiming R&D Tax Relief has been a financial lifeline for many businesses during Covid-19.

20 years on since the scheme was introduced, so many businesses are still only now realising R&D Tax Relief is something that they are able to harness, often for developing products and services which they considered to be standard when in reality, they were pushing innovation as a company and the industry as a whole. There are still significant missed opportunities so it is always worth arranging a free no obligation call.

With a number of boutique R&D firms in the market, we know we must stand out from the crowd. These are just a few of the ways in which we are different to our competitors:

  • We tailor the process to suit your business need – we understand that you need to focus on running your company so we build a process with you to create the least disruption and minimise any “form filling” exercises. This includes site visits to extract the information in an efficient manner, or arranging calls for an informal chat whilst we capture the relevant details.
  • Our two year initial claim fee basis is a contingent one, and does not tie you into a contract – some firms may choose to bind you in to a 5 year fixed percentage which can deprive your company of a large amount of the benefit.
  • We provide a personal service – the benefit of a smaller team means that you have one main contact for any queries.

James Geary is also involved on a volunteer basis with our tax professional body which gives him the opportunity to sit in meetings with key decision makers at HMRC on the relief, giving him a unique insight and even a certain degree of influence.

In addition, we strive to overcome the common myths of R&D, two of which are as follows:

“I have read the legislation, and I don’t think we qualify. We provide bespoke solutions but that’s just what we do as a business.”

The criteria for R&D Tax Relief are fairly broad, as the relief spans such a huge range of sectors. If you are attempting to resolve scientific or technical uncertainties, it is almost certain that your business qualifies. This can include developing new products, new processes or creating bespoke solutions for your customers.

R&D Tax Relief is often associated with innovations within the Software & IT Industries but as the following testimonials show, the applicable Industries can be extremely varied. Although not always immediately obvious, our team can help determine if there is a commercially viable claim for your business.

“We were not previously aware that R&D Tax Relief could apply to the bespoke fire and security solutions we provide to our customers until speaking with James, and an initial two year claim provided a cash flow boost to the business worth in excess of £200,000. With  continuing annual claims, we are delighted with this result and would recommend any business to speak to Randall & Payne to see if they can also benefit from the regime”. Jason Buttle – Fire & Security Industry

“Gina was of great help though the whole process of our R&D claim. She had so much knowledge and understanding of what we needed to do and guided us effortlessly through it with an amazing amount of patience. We got our claim back at a critical stage of our business when trying to find a way back from lockdown. We would highly recommend her to any business and look forward to our continued work with Randall & Payne in the future.” Bee and Xavier – Food Industry

 “I have a good long standing relationship with my accountant, and I don’t wish to move accountants to claim R&D Tax Relief.”

With such a broad range of sectors involved, completing R&D Tax Relief claims is a specialist service. This is because in most cases, opportunities to maximise a claim may be missed due to inexperience of completing them on behalf of clients.  In one case, we were able to increase a company’s return eight-fold by carrying out a critical look at their existing claims which shows it is always worth a second look. We also understand that clients build up long standing relationships with their Accountants, and would prefer not to move their services which is totally understandable.

At Randall & Payne we are happy to offer an R&D only service. We now work alongside a number of Accountancy Firms that do not specialise in the relief, but above all want to provide their Clients with quality advice and to add value where they can, particularly in this difficult climate.  This means you can benefit from receiving specialist advice, but also maintain your long-standing relationship with your existing advisor. Don’t just take our word for it – these testimonials show how we can be your trusted R&D Advisor and work professionally with your Accountant, with truly positive results:

“I wasn’t aware of R&D before engaging with the firm and they guided me through the process brilliantly, extracting the right information and presenting it in a way that was successful. Nothing was too much trouble, even jumping on a screen share with my Accountant to do things I don’t need to understand! I was delighted with the service as well as the lovely refund we received, and happily, (and frequently do!), recommend them to anyone!”. Chris Nyland – Absolute Creative Marketing Ltd.

 “We are working alongside Randall & Payne as they act as the R&D Advisor for our Clients. James and Gina are professional, friendly and approachable and we are regularly recommending them to our Clients. They work very efficiently, having previously worked on an urgent deadline job, turning it around in just over a week. They work on an open and collaborative basis, making every effort to ensure we are kept up to date and supporting us with updating our tax records and systems as required. They have also worked hard to help us to be able to identify potential claims for our Clients, as well as keeping us involved in Client meetings.” Smith Heath Chartered Accounts, Gloucester

R&D Tax Relief provides a vital cash boost to companies that are developing and improving their products, processes or systems. If you think that you could be missing out on the full claim you are entitled to, or have yet to a make an Application, we are happy to arrange a free no obligation meeting to discuss further. In the current circumstances, we can arrange virtual meetings or phone calls at times to suit you.

Call now on 01242 776000 or contact Gina Gardner gina.gardner@randall-payne.co.uk or James Geary james.geary@randall-payne.co.uk for further guidance.

 

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