Discovering that you are being investigated by HMRC can be very stressful, even if you are...
At Key Business Consultants, we have many years of experience in helping companies develop the best approach to making an R&D tax credits claim.
We are R&D tax relief specialists and can help you across all stages of making a claim.
Some of the areas where we have helped clients include:
- helping to prepare a suitable business plan
- preparing financial projections
- dealing with HMRC inquiries
- obtaining advance assurance from HMRC
- managing the tax claim process from start to finish
There are two schemes for claiming relief: the Small or Medium-sized Enterprise (SME) Scheme and the Research and Development Expenditure Credit (RDEC) scheme for large companies.
In some cases, SMEs may not be able to access the SME scheme. This could be the case if they are receiving grants. We can help explain the option to use the RDEC scheme.
Planning An R&D Claim
As R&D specialists we can help you increase the size of your tax credit by ensuring that all relevant spend is included with a claim. This can include identifying valid expenditure that has been miscoded, identifying items that have been forgotten and ensuring that the highest possible percentage for R&D costs is applied.
We would recommend that you contact us as early as possible if you are planning to undertake any work that may qualify for R&D tax reliefs. Even if you are not sure if the work will qualify we can help analyse the planned expenditure and where there is qualifying spend maximise the benefits available to you using the R&D scheme.
The Next Steps
But, even if you haven’t made contact at the outset it may not be too late. You have two years to make a claim for qualifying R&D tax relief so if your company has already undertaken a project we may be able to help you make a backdated claim.
R&D tax credits are very generous, especially for SMEs and cash claims can even be made by loss-making businesses. So, you can even sometimes make a claim on projects that ultimately failed.
Speak to us today to see how much your business could claim and how we can help.