I have worked with many companies across most sectors of the economy to generate significant amounts of cash tax saving (or cash repayments in some cases) through identifying qualifying R&D expenditure that would otherwise have been missed.
The UK’s R&D regimes provide valuable relief for companies undertaking qualifying R&D activity. Unfortunately, in my experience, too many companies miss out on this valuable relief because they don’t understand the full breadth of the definition. Mind you, as they are not working with the definition day in day out, why would they be fully familiar with the detailed interpretation of the BIS Guidelines on the Meaning of R&D for Tax Purposes?
Worse, I still come across businesses with obvious R&D activity that weren’t even aware of the existence of the R&D incentive before speaking with me. Their advisers are simply not raising this with them, probably because they themselves are unfamiliar with the definition so don’t realise that their client might be undertaking R&D.
Can you afford not to claim?
- Large companies could be saving cash tax equivalent to 8.8% of their qualifying R&D expenditure (at the current CT rate of 20%).
- SMEs could be saving cash tax equivalent to 26% of their qualifying R&D expenditure (at the current CT rate of 20%).
- Loss-making SMEs, who are not paying tax, could receive a cash repayment equivalent to 33.35% of their qualifying R&D expenditure.
Many of my clients actually want to prepare their own claims but they don’t always have the expertise, or the resource to manage the process themselves. That’s why they come to me; I provide a full claim management service, ensuring that the claim is put together efficiently and with all of the necessary information. I can also provide technical advice where appropriate.
Even those businesses that are aware of the R&D regime may find that they are not actually optimising their position and are leaving money on the table.
I can help you to optimise your (or your client’s) R&D tax relief claim through:
- Managing your claim process (whether you are claiming yourself or using an adviser);
- Advising you on your in-house prepared claim;
- Assisting you with the process of agreeing your claim with HMRC;
- A full claim preparation and agreement service.
I also work with many advisers who do not maintain a dedicated R&D technical capability but who want to ensure that their clients get the best advice in all areas. By working with me, they are able to ensure that their clients are taking full advantage of the R&D relief.
A company had prepared its own claim and asked for a “quick review”. By asking some pertinent questions of the technical staff, I was quickly able to determine that the claim was understated. Working with the company’s technical staff, I was able to help them significantly increase the benefit of their claim.
Further case studies can be downloaded here.