OK, so you’re ahead of many other businesses as you’re already claiming R & D Tax Relief, but could you be claiming more?
At R&D Tax Claims we know that for a business to maximise the value of its R & D Tax Claim, the submission needs to be supported by:
- a thorough understanding of the HMRC scheme;
- a good working relationship with the relevant tax office;
- a thorough understanding of relevant (R&D) expenditure;
- good report writing skills – bringing everything together in the correct format!
Whilst your accountant may be OK with 1 and 2 above, unless they really understand your industry and have relevant manufacturing and engineering experience, they are unlikely to be able to identify all relevant expenditure, often resulting in an under-claim.
It’s essential you work with an R & D Tax Claim Expert, but also one who has relevant experience of your industry…
At R&D Tax Claims, we recognise that a combination of expertise and skillsets helps achieve the best outcomes for our tax claims clients.
- Tried and tested process – our process is a robust one which ensures we fully investigate all R & D opportunities for our clients, create comprehensive submissions for HMRC and provide support throughout the claims process until businesses receive their rebate.
- Team – as specialists in engineering and manufacturing, we need to understand our clients’ businesses completely, so we have a team of experienced engineers who work alongside tax specialists who between them understand all aspects of the R & D tax relief schemes.
The Benefits of Working with an R & D Tax Expert
- Our engineers can identify what is (and isn’t!) R & D with an in-depth understanding of what the HMRC scheme identifies as HMRC, so you don’t need to worry;
- Our accountants understand how HMRC work making the submission of your tax claim as stress-free as possible;
- Combined engineering and tax knowledge is essential; this ensures your business can maximise the claim potential, but also reduces the potential of claims being queried due to them being unrealistic.
Perhaps you’re not claiming R&D Tax Relief?
Many companies in the UK carry out research and development (R & D), but they don’t always recognise that they are doing R & D or even that they can claim tax credits for.
Recognising that a business is carrying out R & D activities may be the initial question for a company, but once this is combined with the need to fully understand the HMRC scheme it can open a number of questions, which can see businesses not maximising their claims, or putting off claiming for their R & D altogether.
This can mean they are not making the most of the available R & D tax relief, something that can save businesses thousands.
Overcoming these challenges is not impossible – and with the right expert support businesses will be able to fully benefit from the scheme.
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