The R&D tax claims process, if you commission R&D Tax Claims won’t cost you a penny unless we secure your tax saving. Our no-win, no-fee promise is a genuine one, only when your refund is paid, or your tax saving is processed, do we receive our fee.
Following our ‘six easy steps’ means that within an average of just six weeks of submitting your revised corporation tax returns, you could enjoy a tax refund of tens of thousands of pounds. In total, the process takes between 8 to 12 weeks.
Our first contact with new manufacturing and engineering sector clients is usually through emails and calls. Even at this early stage we can make a good assessment of whether your business is eligible or not, as we have extensive experience working with similar businesses who have achieved a successful claim.
To confirm eligibility, we set up a meeting at your premises, usually lasting a 1-2 hours where we can learn much more about your R&D activities.
To engage our services, we ask you to sign a simple agreement, though it’s important to note that there is no upfront fee, and we only get paid if your claim is successful, and after you have received your cheque from HMRC!
The time your employees spend on qualifying activities is key to your refund, so this stage focuses on gathering this information. Throughout this period, you are completely supported by one of our Account Managers who provides you with all the documentation necessary to quickly and accurately record the necessary information ensuring you achieve your maximum refund as our experienced Account Managers can spot R&D activities on your shop floor that accountants just cannot see!
It’s at this stage, that working with a specialist dedicated to achieving tax refunds for manufacturing and engineering businesses become really clear, as the documents and knowledgeable support provided by your Account Manager are tailored to your business and its operations, making the data capture process so much simpler.
The compiling of the report is key to the success of your claim, you may be doing R&D but unless you submit the right information in the right format you risk delaying your refund, reducing its value, or at worst having it rejected altogether.
We compile your comprehensive report and detailed R&D cost schedules to support your submission with revised tax computations.
This is why we work alongside your accountant, as whilst they are aware of the tax benefit, unlike our Account Managers, they often do not have the required industry experience to prepare the detail report.
This is the easy bit, we submit a revised tax return, with full supporting evidence, to HMRC on your behalf. Over the years we have established good relationships with the revenue, so if they have any issues these can be quickly resolved, preventing a delay in your payment.
HMRC can take up to six weeks to process a claim, however, our robust claims process typically sees our clients’ getting an R&D Tax Credit within four weeks.
If your business is profitable your overall corporation tax bill will be reduced, so if you have already paid your bill for the period, you will receive a refund. If you are a start-up company or you are loss-making business, and have not paid any Corporation Tax you can still benefit, contact us to find out how.
So How Much Does it Cost?
- We don’t charge you unless your claim is successful, so it’s risk free for you;
- Our fee covers our comprehensive end-to-end process;
- Our standard fee is 20% of the benefit you receive, which you only pay after you have received your payable credit and/or corporation tax reduction.