One of the services that several prominent law firms are examining is the Scientific Research & Experimental Development (SR&ED) program. SR&ED is a high value-added service that is not only lucrative for your firm, but it can also assist with new business development and client retention.
Lucrative Value-Added Business
Valued at over $3 Billion, the SR&ED program is currently CRA’s largest R&D program in Canada. The purpose of the SR&ED program is to encourage business innovation in Canada, and the program is set up to reimburse companies for eligible research and development expenses incurred. As the SR&ED service sector is growing at a rapid pace, there is a current void in the market for SR&ED tax law expertise.
As a legal firm, offering your clients SR&ED consultation in-house will not only expand your product offerings, but it will also offer your firm business development opportunities. SR&ED provides you with an opportunity to approach new clients to inquire about their last claim. And since SR&ED is an annual occurrence, it also provides an opportunity to seek repeat business from your loyal clients.
With 500 clients, and numerous partnerships across Canada, NorthBridge Consultants is a reputable national, engineering consultation firm with over 20 years of experience preparing CRA SR&ED claims, and preparing clients for the CRA review process. We have formed strategic partnerships with several law and accounting firms across Canada to help add value for their clients.
What sets NorthBridge Consultants apart?
NorthBridge Consultants is a full service SR&ED consulting firm. Our first priority is making sure that your clients reach their goals. Working with clients through every step of the SR&ED process, from the initial consultation, to the preparation of the claim, to preparing for and defending the claim – we are there with them for it all.
During the SR&ED process, NorthBridge guarantees that your clients will receive:
- A free consultation with project identification
- Provision of an engineering account manager who is an SR&ED claims expert in the appropriate industry section.
- Detailed analysis of SR&ED eligible work and expenses
- Identification and development of all eligible projects and processes
- Consultation, analysis, advice, and assistance in the preparation of the necessary financial and technical documents needed to process a claim
- Referral of accountant services to expedite the filing of the T661 form (if needed)
- Full, continuous guidance with supporting documentation preparation
- Pre-filing screening for your claim
- Pre-review by our engineers to manage expectations and be fully prepared during the actual review
- Full support and physical presence during Financial and/or Technical review
- Development of procedures and systems to track and record your SR&ED processes
- Establishment of a structure for R&D tracking in the future
- Training of both your employees and your client’s employees in the SR&ED process
- Ongoing support and consultation
To find out more about how your firm can attain SR&ED expertise, contact Northbridge today!