R&D Answers: What Do We Do at R&D Credits … And Not Do?
Date: 4th March 2012
What Do We Do And Not Do To Help You With Claiming Your Research And Development Tax Credits?
Our role is to investigate the scope of your R&D work, make sure you understand the qualifying scope, review the technical aspects of qualifying projects and help you produce draft justifications for submission with the Corporation Tax claim.
We do not take over the role of the accountant who is the Corporation Tax specialist, but will help in any way we can including dealing with any questions from HMRC in relation to R&D qualification.
Our senior consultant ran an ICT company and sits on the R&D Committee at Intellect (formerly CSSA and FEI), the trade body for the ICT industry. This committee worked with HMRC to ensure that they understood the R&D aspects of ICT development work – and worked to help the industry understand the HMRC Guidelines and Guidance.
Although, 80% of our justification work has involved ICT companies, our clients have been involved in other areas such as innovation in electronics, packaging, surgical gloves and environmental science. We have now produced justifications for more than 100 companies, covering in excess of 500 projects. In some cases we have been asked to help when a company has made a claim which is meeting with resistance from HMRC. While it is better if we can help produce the justification document to be submitted with the claim, we have been able to help in those tricky situations.