Impact of Client Reviews on Expanding Business

As a trusted advisor, few things can be more frustrating than seeing clients go to someone else for advice that you yourself can potentially offer. However, every day, specialist advisors are picking off clients from incumbent firms and servicing their requirements for R&D tax relief. Given the generous fee income from a product like R&D, this can be annoying at best, but reputation damaging at worst. “Why didn’t my accountant tell me about this?”, and “If they didn’t know about this, then what else don’t they know about?” are comments I hear all too frequently. 

Thankfully, WhisperClaims gives you the tools to be able to sit with your client and produce a robust R&D claim. Our app will prompt you to ask your client all the right questions, and produce a report that not only covers the technical elements of R&D, but also puts the costs into the correct categories too!

Simple, right? But what if you don’t know they would qualify in the first place? How do I use this tool to its full potential and build a profitable service? Again, this is where WhisperClaims can help. 

Last month, we launched a new client-focused product designed to help you uncover some potential ‘hidden gems’ within your own portfolio. Our client portfolio review service draws on 10 years of experience working across multiple sectors in the R&D arena to give you the insights and hopefully the confidence to be able to have a meaningful conversation with a client that you may not have considered for R&D tax relief. 

Since then, we’ve conducted a number of reviews for our users. In all but 1 of those reviews, we’ve been able to uncover at least 10 potential R&D clients that had been overlooked previously. These were not the “low hanging fruit” that most users deal with. Given that the average SME claim is valued at approx £57k, that is a lot of tax saving…not to mention fee income!

Happily, we recently conducted a review and highlighted a potential claimant with an imminent year end who had never claimed before. Given the time critical nature, our user immediately spoke with their client, and—coupled with the efficiency of the WhisperClaims App—was able to put together two claims to submit to HMRC within four days of the review. To top it all off, a third is on its way soon!

The review consists of a short consultation followed by a portfolio review that generates a report categorising your clients based on probability of being able to make a claim for R&D. There are notes with each category to give you some insight as to the types of work that would generally qualify.

Our new Client Portfolio Review Service is now live…and it’s free! 

To book a consultation, please contact Ian@whisperclaims.co.uk