Clear and accurate record-keeping is immensely important to ensure you don’t miss out on any qualifying expenditure while making an R&D tax claim. Every business operates differently and has a distinct method of record-keeping. That’s why HMRC does not specify a way of record-keeping for R&D tax claim. However, having a complete and clear record can […]
Life Science Industry The life science industry is a diverse field encompassing various fields of science, including pharmaceuticals, biotechnology, nutraceuticals, food processing, biomedical technology, genomics, digital health and cosmeceutical sectors which aim to improve life in any way. This industry is among the dominant sectors in the UK economy, with a high productivity rate compared […]
The UK government offers R&D incentives to support companies which are investing in innovative projects. Companies fulfilling prerequisites of the claim can take R&D incentives in the form of corporation tax reduction or tax credits. Looking closely at the statistics, most of the R&D tax credit claims are rejected by HMRC due to insufficient documentation […]
R and D claims are the UK government scheme, which works according to the HMRC guidelines. HMRC requires you to follow these regulations for preparing successful R and D claims. These comprehensive guidelines also inculcate terms and conditions for qualifying projects and expenditures. In simple words, R and D claims can only be made for […]
Over the years, Square Finance has worked with companies of all sizes and domains, which provided us with an opportunity to prepare and review thousands of claims. Being R&D tax credits experts, we have come across all kinds of erroneous claims, and most of these mistakes are made due to a lack of information or […]
What is RDEC Scheme? RDEC stands for the Research and Development Expenditure Credit which is a UK government scheme to reward innovative businesses, introduced in 2013. Where SME scheme provides R&D incentives to smaller companies, RDEC scheme renders R&D incentives (R&D Tax Credits & R&D Tax Relief) to larger companies with than 500 staff members, […]
Why is the report submitted to HMRC? HMRC initiated the two schemes of R&D claims: R&D Tax Relief and R&D Tax Credits. These schemes provide businesses working in the field of research and development with a chance to acquire R&D incentives. For R&D Tax Relief and R&D Tax Credits claim innovative businesses are required to […]
