By victoria Taylor

R and D Tax Credits

R and D tax credits are lucrative incentives for businesses seeking innovation in products, services and processes, providing tax relief or payable cash credits for their spending in seeking innovation. It is an excellent opportunity for businesses to boost their innovation and regulate their cash flow. However, businesses often miss out on this highly beneficial scheme due to a lack of understanding about their eligibility for the scheme. In simple words, any company investing in improving services, product lines or processes by overcoming scientific and technical uncertainties and finding solutions that are not readily available can claim R and D Tax Credits.

Who are R and D Tax Specialists?

R and D tax specialists and consultants are highly qualified and experienced advisers who are experts in the field of R and D tax credits claims. R and D tax specialists not only have knowledge of R&D but also have a deep understanding of tax legislation, accounting and HMRC guidelines, which enables them to prepare fully robust R and D claims for companies from all domains. R and D tax specialists play three significant roles in your R and D tax credits claims:

1. Eligibility Assessment

R and D tax credits claims are a bit complicated, and commonly companies get stuck on understanding what qualifies for the claim and what not. However, R and D tax specialists have experience in preparing claims for every domain, so they can help you find your project’s eligibility for the claim and assist you in finding all the qualifying activities to maximise your claim.

2. Helping You Claim The Right Way

Most claims are rejected or are subjected to an enquiry by HMRC due to claiming with the wrong scheme, adding non-qualifying costs or erroneous tax computations. However, you can mitigate the chances of investigation or penalties by consulting R and D tax specialists, who can help you find the appropriate scheme and ensure your claim fulfils all the prerequisites of the R and D tax credits claim. Moreover, R and D tax specialists also prepare a robust claim on your behalf, including the preparation of a technical narrative to help you explain the parameters of your qualifying research and development project for your claim.

3. Enquiry Support

One of the most critical roles of R and D tax specialists is HMRC enquiry support. In case you are subjected to an enquiry, you can expect a delay in your claim, reduction in your claim value, and time taking enquiries. But you don’t need to worry about it; one easy solution to avoid all of this is taking help from the experts. R and D tax specialists usually have years of experience in preparing successful claims and dealing with HMRC scrutiny, so with the help of an R and D tax specialist, you can ensure your claim is in safe hands. In addition, the experienced R and D tax credits expert knows how HMRC will analyse your claim, so without any delay, they’ll be able to deconstruct questions and prepare an adequate response before the deadlines.

How can you claim with an R and D tax Specialist?

  • First, you need to find an experienced and reliable R and D tax specialist with technical knowledge of your domain, so they can use their technical expertise to identify all your projects to find what’s eligible for R and D tax credits claim.
  • A good R and D expert will help you understand how R and D tax credits claim work and walk you through the claim process.
  • After the initial eligibility assessment, R and D experts will need your little time to get to know what you do and find hidden qualifying research and development activities. This will enable them to prepare maximised claim for you.
  • R and D tax credit claims can be made through two schemes, i.e. SME scheme and the RDEC scheme. The specialists will help you find the suitable scheme for your claim according to your company’s current financial position and other prerequisites of the scheme.

Another reason why taking help from an R and D expert is important is they have a deeper understanding of R and D claims and can mitigate the chances of claiming with the wrong scheme.

Note: There are some conditions, such as availing government grants limiting access to the SME scheme, but those SMEs which cannot claim via the SME scheme can still claim R and D tax credits through the RDEC scheme.

  • After the selection of the suitable scheme, R and D tax specialists will prepare a comprehensive and compelling technical narrative to explain how you are undertaking research and development to prove your eligibility to the HMRC.
  • The R and D expert will take care of the documentation and calculations, you will just need to check the report once before the submission, and the experts will take care of the compliance check and submit your claim on your behalf to the HMRC.
  • Within a few weeks, you will receive your R and D tax credits, and, in case HMRC scrutinises your claim, your R and D expert will take care of it. Usually, when you claim with an expert, they provide HMRC enquiry support for free.

R and D Tax Specialists at Square Finance

To make R and D claim simple and fast, claim with our team of R and D tax credits expert who will manage your claim process and help you get maximum incentives. Claim with us and

  • Save money and time
  • Take advantage faster claim process
  • Access technical expertise and experience
  • Mitigate chances of HMRC enquiry
  • Get maximum reward for your contribution to R&D.









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