You’d probably agree that, if you get to a place where you have a strong collaborative relationship with a client and you're doing what you can to educate them and to protect the best interests of their business, you're going to be building a deep relationship, a loyal, long-standing relationship, with that particular client. And it was those three factors – collaboration, education and protection – that stood out as the valuable elements of this discussion with Mike Dean of Whisper Claims, as he talks about the R&D tax scheme, something I wasn’t expecting would show up on the Humanise the Numbers podcast. But Mike talks a lot of sense with regard to collaboration, protection and education in the R&D tax space, a sector in which there is a high degree of uncertainty and, maybe, a sense of wariness, because of what's taken place in recent times. If you’ve got clients who are wondering about or who are interested in R&D tax, but you’re nervous about it, why not check out this podcast. Please scroll down this episode page for the contact information for Mike and for an additional, downloadable resource mentioned in this podcast. |
The Solution:
It's that negative messaging about the scheme that has come about as a result of all this change. So I think a lot of companies are viewing the R&D tax scheme with suspicion.
There are a lot of stories out there regarding fraud and boundary-pushing, and I think that's created a sort of feeling of fear amongst SME owners, so overcoming that is key.
It's quite interesting because I think maybe five years ago it would have been regarded as a ‘PPI door-knocking type thing’, whereas now I think it sort of swung the other way, and R&D tax claims are regarded as dangerous things to get involved with.
I think that's why it is an area of opportunity for accountants as trusted advisors. Accountants are there to put their arms around their clients, reassure them, and find a way to do it effectively.
SHOW NOTES
Connect with Mike
Connect with Paul
Resources relating to this podcast:
During the podcast, Paul and Mike discuss a very niche subject – R&D tax claims. For many business owners, this can be a scary and complicated subject. For their accountants, this represents an opportunity to step in, guiding them through the legislation and ensuring they successfully navigate the minefield that is the HRMC.
Being your business owner client’s trusted advisor when they need you the most allows you to be able to demonstrate your value to them.
Your success is determined by your ability to communicate your value to your clients. It pays to take the time to clarify how you will show the value of your firm and your firm’s products and services in a conversation.
Helping them manage something as complicated as, for example, an R&D tax claim, is where you can highlight your value to them.
If you want to know more about the importance to the future of your firm of demonstrating your value to your clients, please read the Business Breakthrough Report 'Client Value Counts' and tip the dial in your favour.
