The "state" of R&D tax? We all know that the R&D tax market carries with it a reputational issue. So much so, in fact, that recent consultations from HMRC have focussed on measures to try to tackle bad behaviours. This has resulted in several changes to the scheme, all due to come in April '23, and all of which are probably well overdue. These include things like: - All R&D tax claims should be accompanied by a technical report - All claims should identify the agent who has completed the report - All reports should be signed off by the client Simple things? Yes. But also an indication of the things that have NOT been happening - rogue consultants submitting figures to HMRC without client sign-off and without sharing a report with the client are not that unusual - (that's not to say it's normal behaviour, btw) In addition, there's discomfort (from HMRC) about the impact of contingent fees - that success fees themselves are a breeder of bad behaviours, encouraging providers to "maximise" the claim, or "stretch the boundaries of the scheme". So, I'm interested to know why accountants don't take on more of this kind of work? Especially given a drive to add more, and more value-added, services to firms portfolios. - Put off by 500 pages of HMRC guidance perhaps? - Believe this to be too narrow a niche of tax advice? - Believe you don't have the technical skills or grasp of your clients' work? - Put off by the potential for reputational risks, in line with the observations above? - Perhaps you believe you can't be competitive with the plethora of providers out there? Love to know peoples thoughts on the issues above -

Posted by Mike Dean at 2022-07-11 13:33:22 UTC