Can't our own accountants prepare our SR&ED claim?
There are advantages to having a SR&ED specialist help you prepare your claim. Unlike most tax forms, the SR&ED tax credit program requires a claimant to provide reports of both a scientific and a financial nature.
As well, the scientific report required for the SR&ED claim has a different focus than the reports most researchers are used to writing. Most new claimants emphasize end-results and/or business achievements rather than technological advancements and the step-by-step process that was required to achieve those advancements.
To further complicate matters, many Chartered Accountants graduate without any knowledge of the SR&ED program. MEUK's SR&ED Tax Case Analysis explains: "the Canadian Institute of Chartered Accountants (CICA) has identified the SR&ED program as beyond the "core curriculum" of the C.A. designation. As a result, it is left to the discretion of each province to decide whether there is any education on the issue whatsoever".