Here at RDI, we are committed to helping our accountancy partners and their clients to maximise the potential of their practice and respected business. Our dedicated team works tirelessly to forge partnerships with our accountants, enabling them to deliver strong and optimised claims for their clients.
Understanding the significance of client satisfaction and retention in the world of accountancy, our primary goal is to enhance your client relationships by leveraging our unique expertise in the UK tax incentive and business funding sector.
Equipped with robust processes, technical know-how, and best practices in record-keeping, we ensure that claiming tax relief delivers tangible value for your clients. Our mission is to empower you with the confidence to identify your clients' qualifying tax relief activities accurately. Whether that be Research and Development tax credits or Land Remediation Relief, our expert team are on hand to guide you and your clients in the best and most compliant direction.
In this guide, we will help you to pinpoint various tax relief related endeavors within your existing client base, walking you through the eligibility criteria, including commonly overlooked aspects and mistakes. Furthermore, we provide practical advice on introducing the incentive to your clients, especially if you haven't done so before.
Lastly, we outline how a partnership with RDI Solutions can enable you to deliver strong, compliant, and maximised tax incentive claims, elevating the overall quality of your accounting services and ensuring you can keep ahead of the competition.
How can I confirm if my clients are eligible for tax incentives?
Many clients may be unaware of their eligibility for various tax relief and credits, while others may have mistakenly ruled themselves out or received advice from another adviser suggesting their activities do not qualify. Addressing this challenge is crucial for your clients' benefit.
HMRC's intentionally broad definition of tax relief, in general terms, can pose difficulties for businesses as they attempt to identify qualifying activities. but it's important to remember that tax benefits can be found across all sectors and business types. Regardless of their size or industry, if your clients are involved in developing new products, processes, or services, or if they are modifying existing ones, there is a high likelihood that they may be conducting Research and Development. And on another note, if your client is perhaps a property developer or construction business and they've had to work on derelict or contaminated land, for example, then there's a chance they might qualify for Land Remediation Relief or Stamp Duty Land Tax Relief. In the world of tax incentives there is never a "one-size-fits-all" approach and every circumstance and project is unique and individual.
This is where your expertise comes into play, supported by our assistance. As an accountant, you typically have access to the necessary information to determine which of your clients are eligible for tax incentives. Together, we can effectively identify eligible clients and unlock the valuable benefits of tax relief for their businesses.
How to identify qualifying activities within your clients business
To effectively assess which of your clients may be eligible for tax incentives, it is advisable to collaborate with an specialist tax accountant well-versed in the criteria for such reliefs. By doing so, you can accurately identify clients who meet the eligibility requirements.
For reference, Accountants should consider clients who:
Employ skilled or technical staff
Operate within regulated sectors
Undertake challenging and innovative projects
Have encountered project overruns or financial losses
Once you have identified potential suitors among your clients, RDI, as a qualified tax relief and tax reward expert, can provide crucial support to ascertain their eligibility for the tax rebate schemes on offer. For example, RDI can provide qualification training to you and your team or arrange an discovery meeting with our team and your client to determine their eligibility for the scheme.
Working with RDI Solutions
RDI is an experienced tax incentive expert that can help you identify and qualify your clients for various applicable tax relief and tax credit schemes.
Our Accountancy Partnership Scheme has two schemes available:
Referral partner: We can handle the entire qualification process on your behalf, including gathering information from your clients, preparing the application, and submitting it to HMRC.
White-label service: We can provide you with qualification training so that you and your team can qualify your clients yourself. Our white-label service is tailored to fit in-line with your company branding and on the face of it everything will be under your practice's umbrella - the only difference is that you can use our expert back-office team and you can take advantage of our relationship with HMRC in order to push things down the line for your clients claims in a more timely manner.
Essentially, our specialist tax service encompasses a dedicated point of contact for you to liaise with, we provide valuable resources for comprehending tax relief calculations, and keep you up to date with timely updates on clients' claims.
With our support, you can confidently navigate the complexities of tax incentives and provide exceptional value to your clients.
Benefits for your practice
Enhance your practice
Through diversification and expanding your service lines, you can enhance your practice by offering a broader range of solutions. This strategic approach not only strengthens expertise and reputation but also opens up new avenues for revenue generation and helps to position your business ahead of the competition.
Enable your clients
Help your clients to grow their company by unlocking a wealth of vital and essential business funding. By collaborating with RDI, our accountancy partners become valuable to their clients by providing out-of-the-box financial strategies that are tailored to their unique specific needs.
Receive dedicated support
When you become a part of our Accountancy Partnership Scheme, we prioritise your success by offering unparalleled support. You will be assigned a dedicated account manager, who will serve as your primary contact and advocate, ensuring that you receive the assistance you need every step of the way.
Benefits for your clients
Claiming tax incentives allows UK businesses to access additional funds, providing a significant boost to their cash flow. This infusion of capital can be used for various purposes, such as investment in research and development, expansion, hiring new talent, or upgrading machinery and technology.
Gain competitive advantages
Leveraging tax incentives gives businesses a competitive edge in the marketplace. By reinvesting the tax savings into their operations, businesses can innovate, develop new products or services, and stay ahead of their competitors. This enhanced competitiveness can lead to increased market share and greater profitability.
Retention and attraction of talent
Claiming tax relief and incentives can positively impact a business's ability to attract and retain top talent. By utilising the additional funds to offer competitive salaries, benefits, and professional development opportunities, businesses create an attractive work environment and enhance their employer brand.
Presenting tax incentives schemes to your clients
When presenting tax relief schemes to your clients, it is essential to highlight the following advantageous aspects of tax incentive payments:
A dependable annual funding source for businesses engaging in ongoing activities
Enhanced cash flow, providing valuable financial support
Opportunities for future growth and reinvestment in projects, fostering innovation and development
Enhanced appeal to potential business investors
Accelerate and fuel growth within the business with limited admin required
Summary: In a nutshell
At RDI, we highly value our relationships with our Accountancy Partners, and as a testament to our dedication, we provide unparalleled specialist technical expertise. Your point of contact will always be a senior professional with proven accomplishments and diligence.
When you refer a client to us, we invest time in thoroughly understanding their business and delving into the full extent of their potential eligible activities. Our approach is characterised by rigour and a built-in quality assurance process, ensuring that the resulting tax incentive claim is comprehensive, compliant, fully maximised, and ultimately safeguarded from potential risks.
Rest assured that we uphold the utmost respect for your client relationships, and our partnership is designed to help you add significant value to your clients. We work with accountants throughout the UK and prioritise building true partnerships with them.
Flexibility is a cornerstone of our collaboration, and we tailor our approach based on your existing involvement in preparing tax credit claims. Some accountants prefer to handle certain claims themselves and refer the more complex ones to us.
Should you choose to initiate our partnership with a first client, we will seize the opportunity to demonstrate our market-leading approach and superior client service. Our commitment to exceptional service remains unwavering regardless of how our collaboration begins, and we consistently prioritise your clients' best interests.
More details about working with us can be found in our Accountancy Partnership Scheme section.