For businesses attempting to claim R&D tax credits themselves, this lack of structure is often where they fall short. Companies tend to haphazardly put figures into a list or spreadsheet without explaining how they arrived at those calculations.
Haphazardness leads to missed costs — potentially mounting up to tens of thousands of pounds in lost R&D tax credits. It’s also where companies include expenses that don’t qualify as R&D — prompting HMRC enquiries.
Expert consultants, qualified accountants, and experienced tax professionals will craft a strong R&D narrative for your business through a meticulous technical report.
Our technical report process is a part of how we keep HMRC questionings to a minimum and ensure no eligible costs are missed — giving you maximum return on your R&D tax credits.
HMRC inquiries can embroil your team with lengthy and costly back and forths with tax inspectors — typically taking six months to a year to resolve. Not only can this delay your funding by several months, but it could also reduce your windfall and damage your relationship with HMRC.
Should HMRC challenge your claim, we’ll deal with it as part of our end to end service and only involve you if necessary. HMRC’s questions can be in-depth — looking for answers on how a claim was put together and the methodology behind it to assess against their guidelines.
Tax inspectors will also want to see how:
“Clients claiming alone can also only focus on how the advance benefitted their company”, explained our R&D Technical Claim Manager, Madeline Oak. “For a successful claim, it’s essential that your R&D work advanced the industry as a whole. We know what to say and how to say it”.
Averaging £54,000 per R&D tax credits claim, we can help you unlock tax relief that has the power to transform your business. We’ll only need 5–6 hours of your time through the whole process. You can get in touch with us here.
Every customer and every claim we work with benefits from our deep expertise in how HMRC manages R&D tax credit applications.