R&D Tax Credit is a valuable corporate tax-based incentive with the designation to encourage investment in R&D by UK companies.
The UK government recognises that encouraging innovation is vital in implementing a strategy to improve UK productivity. HMRC are very specific in how they view R&D, any qualifying activity whether unique, bespoke or commercially new to any enterprise has to show that there was an advance in science or technology and that there was scientific or technological uncertainty. HMRC's definition of R&D (found here) is not the same as the commercial, engineering or accounting definitions.
How can we help – our R&D services
The Research & Development environment is constantly evolving, our specialised team can assist you with the claim process and help to manage and ensure the quality of your claim in a manner that meets HMRC legislation and in consultation with their guidance, please contact any member of our team below if:
- You feel you have a qualifying project.
- You are seeking to make an advance in the field of science or technology.
- You are extending the overall knowledge or capability in your field.
- You feel the project / projects involve uncertainty that you as a competent professional could not easily resolve.
Any claim for R&D tax credits involves identification and documenting of qualifying activities alongside associated qualifying expenditure. In our experience and with reference to the volume of HMRC R&D tax credit assessments look to leverage our significant experience in assisting you the client through the claim process. We encourage an environment of full client involvement and interaction through all stages of claim, to include HMRC Pre-notification and Additional Information Form compliance.
To ensure we as a practice and as an R&D team remain aware of all HMRC topical and evolving areas of R&D are registered member of "The R&D Community".