A guide to applying for R&D Tax Credits

Technical guidance - February 2018

Is your company working on an innovation that will benefit society? Let us help you claim research & development relief that could significantly reduce your tax burden. When you work with us it’s a simple and straightforward process to look into R&D tax incentives that will leave your business looking in better shape. We can also help to manage your research & development claims.

We specialise in R&D tax services and business support that works for all companies and company cultures because we listen to what you need. Our end-to-end service is both personal and highly competent. Our R&D tax advisers, who are all engineers, developers or scientists, will take the time to come meet your teams and put together a high-quality and accurate claim which reflects the ethos and standards of your firm. Here’s how we work.

With small to medium sized enterprises

1. Getting the details right

There are a few basics that need to be established before you can claim r&d tax credits. Our early conversations will determine whether you qualify and spot all the details we need to get you the maximum amount of relief from your research & development claims. This is to ensure you are registered as a UK limited company, the research and development you’re doing qualify for the government’s R&D tax relief scheme, and that you have invested in innovation. We do this by coming to your business premises and talking to your finance and technology teams about potential R&D tax credit claims.

2. You tell us what’s important

During these visits we’ll ask for time with the people in your business with the skills and know-how to get you the most from your claim. We will ask for details of the R&D projects you have been working on, and how much that has cost your business. This gives us the knowledge we need to provide an activity report and an idea of how much your research & development grants could be for.

3. We make it happen

The next step is to complete your R&D tax credit claim and send it to HMRC. We’re expert in this process of how to claim R&D tax credits and have already helped many other businesses. Through this process we’ve developed a thorough method for making these calculations which means your claim will be highly detailed and meticulously accurate. Once we’re happy we’ll send a detailed report to the taxman and amend to your Corporation Tax return (CT600) with our calculations.

4. We deal with HMRC

Now, we wait. We’ll make sure the tax office has all the details they need from your research & development claim. And in the exact time frames they require it to claim R&D tax credits. We take pride in getting this right. We’ll follow-up on how your claim is going, and deal with any questions the authorities have about it. In some cases, HMRC will open an enquiry about tax credit claims. If that happens with yours then you can leave it in our hands at no additional cost.

5. You receive your credit

Once the paperwork is done it usually takes HMRC up to six weeks to credit your bank account. In terms of your Corporation Tax, your benefit will depend on the current health of your business. If you are in profit then your tax bill will fall. If your business made a loss for the period, you get a cash credit.

Why work with us?

– We provide a smart, experienced and fast service which offers peace of mind on all the little details of your R&D tax credit claims.
– We don’t charge unless we’re successful. Our fees are taken as a portion of the credit or repayment HMRC gives you.
– Our terms of service have no nasty surprises or hidden extras.

With large corporations

We’re very aware of the need for business-focused solutions for large firms and corporations. The research & development tax credits rates differ between small and large businesses so we’re ready and prepared to offer you the exact advice you need.

Meet and greet

Your first contact with us will be built around understanding your business, and where R&D tax relief might apply to your balance sheets. We’ll work closely with your finance team to look at the maximum amount you can claim, and to make sure your claim is appropriate and well-managed. A senior member of our team will visit you to facilitate this. From this conversation we’ll produce a practical and efficient proposal of work to meet your needs.

2. Keeping you involved

We want to make sure you get what you need from us, but also recognise how valuable your team’s time is. We will ask you to organise a point of contact for us on any significant issues and make sure you know about any developments. In the meantime, one of our R&D tax services specialists will be working on your materials for HMRC.

3.What we provide

After the consultation period with your team we’ll produce a detailed document that leaves you in a strong position to claim from HMRC. This could include useful information for the workings of your business, including how to address HMRC enquiries or matters within your internal processes.

Armed with this information, you can make decisions about your next steps. If required, we’ll manage the claims process for you.

Why work with us

We will give you a clear fee for your project which is agreed before we start any work. There are no hidden charges as we look into the research & development grants available to you.

The fee may include a contingency element if it’s needed.

Working with accountants or advisors

We’re a solid business partner for other professionals and offer flexible and effective ways of working that match your reputation and expectations.

1. Understanding opportunities

Talk to us about the possibilities for people that you’re already working with or aware of. We’ll organise a meeting that helps you identify people in your network that might qualify for tax credits. We can then follow this up with practical support to help you and your contacts. This may include training or attending events.

2. Keeping in touch

We’ll connect you with a dedicated member of our staff are keep you up-to-date on the work we’re doing in your network. We value relationships in everything we do and want to work together for the benefit of all.

3. Rewarding our partners

Good relationships reap great rewards. We work on a fee-sharing scheme to honestly recognise the value of the work we do with our partners in identifying companies suitable for R&D tax incentives. We think the reward is much more than financial though, it’s improving your own reputation and opportunities, as well as those in your network.

To find out more about how we can help you claim research & development relief, give our team a call today.

R&D Tax Credits Advisors. R&D Tax Credits Experts.