Research and development (R&D) is a must for most businesses today in order to gain or retain a competitive advantage and it does not really matter what sector the business is in; it is fast becoming a necessary part of business planning to devote time and precious resources to creating new ways of doing things.
Some businesses are very good at it and work to a plan that connects their strategic future to their financial present. But they are still the exception when it comes to the majority of SME’s.
That’s where business advisors come in.
Business Advisors can really help with R and D
And it can be of significant benefit to both advisor and client. Business advisors can not only help a client to create and shape their research and development strategy, they can also help the client claim back money from the Government in the form of R & D Tax credits.
Have a look at: http://www.hmrc.gov.uk/gds/cird/attachments/rdsimpleguide.pdf
A well connected business advisor should already have access to colleagues who have expertise and experience claiming R & D Tax credits on behalf of a wide variety of businesses and across many sectors. If not, there are plenty of options to choose from (albeit, choosing a good partner for this is very important and ideally shouldn’t be left up to the client).
Consider the benefits to business advisors:
They can forge a closer relationship with their client whilst augmenting that relationship by delivering ‘revenue’ (in the form of tax rebate). – There is nothing in the world like putting money back into a client’s pocket that better cements the relationship.
Business advisors can develop a truly symbiotic relationship with their client that is capable of delivering long term trust and benefit whilst contributing financially to both parties.
Now consider the benefits to the client business:
They have an experienced resource helping them either strategically or tactically with their business, helping them focus on their competitive advantage and the research necessary to deliver it.
In addition, they have someone who can help them claim money back from the Government.
So if you are a business advisor and you are looking for ways to increase or improve your relationships with your clients, you should be mindful that the business of research and development can be rewarding.
Hi, I'm an R&D tax credit claims specialist, helping companies save thousands of pounds by reducing their corporation tax payments, or if they are loss making helping them get tax credit cash payments.
I'm proud to have:
Find me at: http://www.cobizfunding.co.uk