It is not best practice. Although you will be surprised how many consultants do this. Which begs the question, what value are they adding for the fees they charge?
We prepare the application for our clients and this is why.
Our experts help your experts
We have enough knowledge, experience and skill to understand what your best technical person can throw at us. If we didn’t, how would we know if your work is eligible. We know your technical person doesn’t like spending 10 hours drafting an R&D Plan. They would rather get on with the job at hand. We do the heavy lifting, after all, you are paying us to help.
If you only have an R&D Plan, you’re in trouble
We listen, review and look at your internal documentation. We pull together a summary of your work, in line with legislative guidelines. This makes it easier for everyone to make sure we are all on the same page and that your work is eligible. Importantly, this is where we make sure your R&D is eligible or we don’t claim it. We also make sure you have pre-existing internal documentation, which the program requires. So, we consider everything, not just the R&D Plan.
We get it right?
When you think “trial and error” do you mean systematic testing to find a solution or do you mean random unrelated tests? Get this right, or the difference can result in a failed claim. We use words that the assessors understand, while being true to your work.
You get what you pay for
Don’t let your consultant be lazy. You may have heard the saying, “Consultants borrow your watch to tell you the time then charge you for it”. Don’t let this happen – make sure your consultant is adding value throughout the process.
A consultant getting you to draft the R&D Plan is a red flag. The only upside is they can charge you less, but the consequences mean that your whole claim might be a risk. You will only find this out after you have paid them and it will be too late to avoid the mess of repaying the ATO and dealing with the fallout.
GrantReady is a well-established team with a long history of successfully assisting companies access the R&D Tax Incentive.
Complete the form we’ll give you a free eligibility assessment or call us on 03 9853 9853.