Trust is a very valuable commodity
When we have trust in someone then we can relax in their presence and in any dealings we have with them.
Nowhere is that truer than in the business world where the ability to be honest, open and completely trustworthy is often the bedrock of a successful trading relationship and prosperous economy.
However, there are many occasions where trust is noticeable by its absence.
All-to-often we have come across cases in our own business – which focuses on claiming R&D Tax Credits for businesses throughout the UK and Ireland – where clients have been duped by less-than-honest operators.
For instance, in a recent case which came to our attention, a company was taking legal action against an R&D Tax Credit firm after it was unwittingly tied into a five-year contract.
The unnamed company had been pestered to sign up for R&D Tax Credit advice with offers of a 50% reduction in fee on the understanding of a one-year contract.
Faced with such an offer, the company signed up.
However, when they tried to end the contract when the one year was up – after receiving ineffective R&D Tax Credit advice – they were told they couldn’t and had in fact signed up to a five-year deal.
This is the type of practise which businesses need to be aware of as it can be hugely costly, both in monetary and reputational terms.
If, for instance, you have been duped at the very outset of your relationship with such a firm, how can you trust them to make an accurate claim to HMRC?
That is a question worth asking yourself as the penalties for misreporting are steep.
Before working with an R&D Tax Credit specialist you need to do your homework and make sure you are working with a reputable firm, one which has a track record of delivering on its promises and one is open and honest.
At Momentum Group we tick all those boxes; just ask our long-standing clients who we have worked with to successfully claim R&D Tax Credits having identified R&D activities.
We are a team of R&D Tax Credit specialists who include R&D technical analysts, chartered accountants and specialist business consultants with a deep understanding of R&D tax relief legislation and its application.
In many cases, our clients didn’t even realise those activities fell under the R&D category, so the payment has been a surprising, yet welcome addition to the company’s cashflow.
Not only that, we do nearly all the heavy lifting when it comes to unearthing and applying for R&D Tax Credits, leaving our clients to get on with doing what they do best.
But crucially, we are trusted 100% by our clients, acting more as an integral part of their business than a third-party supplier.
Along with our inherent knowledge the subject, trust is an asset we hold dear and it is something that you should look for when considering R&D Tax Credit advice.
Tom Verner, Founder of Momentum Group