How certain are your R&D tax credit claims?
Successful Research and Development (R&D) tax credit claims depend on the extent and quality of evidence you provide to HMRC in support of the claim. Recently, HMRC has drastically increased the level of scrutiny on claims under the SME and RDEC schemes – this, alongside new rules that come into force in April 2023 and April 2024, means that there has never been a better time to review your RDEC or SME claims, and ensure that they are aligned with best practice.
Mitigating R&D risk and HMRC R&D enquiries
In this environment of economic uncertainty, changing regulations and increased scrutiny, you need to be confident that not only are you optimising your claim, but more importantly, that it doesn’t pose any risks to your business. We can provide your business with a bespoke R&D review, designed to give your claims a robust stress test to identify if your claims are either undervalued or vulnerable to challenge by HMRC.
If your business has:
- Had a claim challenged by HMRC R&D enquiry
- Not developed a robust claims process
- Not received the tax relief you thought you were entitled to
A review by our specialists could help pinpoint the reason why, and ensure your future claims are put on a much more robust footing.
Our forensic approach to identifying qualifying projects and analysing qualifying costs is highly respected and the basis of our strong relationship with HMRC. With our support, you can build a positive relationship with HMRC and help safeguard the future flow of financial support to your business.
We can also help you create streamlined systems and processes that will improve your future claims and create a high-quality, efficient approach to RDEC and SME submissions.
When is the best time to rethink our R&D claims?
Before you submit an R&D claim under the RDEC or SME schemes, it is always worthwhile having it reviewed by acknowledged experts – if your R&D qualifies, we can provide comfort that your claim is robust and should be paid out. We can apply the same forensic approach to review your past claims and identify if further costs can be claimed or if you need to put things right to protect your compliance reputation with HMRC.
If your R&D claim has been challenged by HMRC, we can help. We are frequently called upon to help resolve R&D disputes with HMRC. We will review your claim submission and, where necessary, assist you to ensure the R&D is correctly documented and evidenced or amended as needed to get to the correct figures which usually leads to a successful resolution with HMRC.
If you are seeking external funding or preparing for an exit transaction, an R&D review can demonstrate to all parties that your R&D processes and future flow of tax reliefs are sound. In compliance terms, a R&D review provides strong support for your SAO audit trail.
Contact our R&D tax specialists
We have a dedicated R&D team, comprising scientists and engineers who are specialists in diverse disciplines, with sector expertise ranging from software to financial services, life sciences to chemical engineering, manufacturing to construction, marine to renewables and professional services; coupled with innovation incentive tax experts to give you the best possible R&D claims service. The range of expertise available in our team means that whatever industry you work in, we can provide holistic, specialist support.
R&D Tax Credits Assessment
HMRC has drastically increased scrutiny on companies claiming under the SME and RDEC R&D tax credits schemes. There have been a number of changes to the regulations in recent years, and new rules will come into force in April 2023.
Our AI powered R&D tax credit assessment can ensure that your claim is aligned with your company’s risk profile, and indicate whether you could come under pressure from HMRC. We can also assess whether your business is at risk of under-claiming, based on industry benchmarks.