R&D tax credit claims
Research and Development (R&D) tax credits were introduced by the government in 2000 to encourage more UK businesses to invest in innovation. The idea is that businesses will invest in more staff and make more profit, helping the economy, and also benefit from tax credits.
The criteria for R&D is broad and applicable to many sectors and categories of spending, so if you’ve developed or enhanced a product, process or service, an R&D tax consultant will be able to help you with your claim. An experienced R&D tax consultant can help your business with your claims by providing guidance and expertise and navigating the complex tax regulations and requirements associated with R&D tax incentives. This process involves assessment, eligibility determination, documentation gathering, technical and financial analysis, followed by calculation and optimization, then a submission is made. When the HMRC have any questions or require clarification, a thorough review and a clear response is needed to complete the claim.
R&D consultants help you stay compliant with ongoing R&D tax requirements and assist with any future updates or changes to the tax regulations. They provide advice and guidance to ensure your business continues to meet the eligibility criteria for R&D tax incentives.