THE PROCESS OF CLAIMING R&D TAX CREDITS
R&D Tax North West have developed a simple seven step approach that helps to guide you through process of preparing a claim for R&D Tax Relief. This begins with a short fact-finding telephone or video call to check some of the basic eligibility criteria. It also allows you to introduce your business and establish early on whether or not any of the work that you’re doing could be eligible.
Moving on from this prequalification step, we will then walk you through how the eligibility criteria relate to your business and help you to understand better what sort of work could be R&D. Equally important is that we also make clear what wouldn’t be eligible. Once we have some good candidate projects we’ll work closely with you to gather the required data and financial evidence to support your claim. Claims for R&D Tax Credits normally fail for one of two reasons: insufficient evidence or lack of understanding of the rules. Our job is to make sure that your claim is realistic and well supported.
This is when you sit back and allow us to manage your claim, dealing with any questions or requests from HMRC, up to the point of your claim has been settled. There have been some quite high-profile cases in the media recently concerning the standard of claims for R&D relief that are being submitted and the level of support that companies are offered IF HMRC enquire. Our approach is intended to be pragmatic, screen out any ineligible projects or costs and to deliver robust and well supported claims for relief.
We believe that what differentiates us from other R&D Relief advisors is that we view this as only the beginning of an ongoing, long-term relationship. By focusing on the longer term, we believe that can help to get the best return both from your R&D activities and your applications for relief. We do this through regular discussions that can help you both to identify potential qualifying R&D early and to improve the quality of the supporting information.