If you are already submitting R&D tax claims, can you be certain every box is being correctly checked?
Already Claiming R&D Tax Credits?
Whether it’s ensuring your submission meets with all the intricate HMRC compliance requirements, or is simply a matter of maximising the potential of your claim, 100% accuracy is critically important.
A submission made by yourself, an accountant or even an alternative R&D tax service provider may lack the precision assured by the team of expert consultants at randd.
Free R&D Claim Healthcheck
Any concerns you have about the validity of your R&D tax claim submission, or if you are unsure whether all of your company’s qualifying activities have been included, can be alleviated by a free R&D claim healthcheck offered by randd.
The healthcheck can apply to past, present or future submissions, highlighting any factors that could affect the value of your claim or increase your compliance risk. HMRC guidelines are reviewed and modified regularly, which means it can be easy to lose track of how the latest definitions impact your submission in relation to the eligibility of the innovations your company is attempting.
Our proven track record has demonstrated that we can help our clients claim back up to 9 times more value compared to their accountants, a self-submission or an alternative R&D agent. By filling out the form to schedule your free healthcheck, you will gain valuable peace of mind that your R&D rewards will be maximised, as well as open, honest advice.
The Healthcheck Process
By reviewing your last one or two years of submissions, we can offer impartial advice based on what you have previously submitted. A member of our senior team assesses the quality and risk profile of the submission, as well as the figures to benchmark these against clients in the same sector. We also review your technical narrative to look for ways it can be improved or for anything that might have been missed.
Our aim is to gain an understanding of your submission background, which gives us a broader picture of what you have achieved within your business and the types of advancements you typically claim for. Due to the new level of compliance needed when submitting a claim, we can inform you of potential risks in future submissions and ways to provide them.
We understand R&D submissions can vary in quality. Based upon how you compiled your last submission, we want to ensure you are submitting a claim with your best foot forward next time. Get in touch with our dedicated team to maximise your R&D tax claims.
Why Companies Need Help with R&D Claims
There are various reasons why companies benefit from working with an experienced R&D tax specialist such as randd:
R&D tax can be a complicated subject
Understanding all the legislation around eligibility and the UK tax code is not straightforward. Important aspects can be overlooked in submissions – and even the little things can make a big difference. We are fully versed in all the subtle nuances of the scheme.
Time constraints
Running a company is time-consuming and should be the principal focus of any business owner. Passing the management of an R&D tax credits claim to an expert adviser offloads a significant burden and leaves you free to concentrate on the performance of your company.
Uncertainty around qualifying costs
Ultimately, you have overall responsibility for your own claim, so you need complete confidence that your submission will be successful. Even if you are conversant with the process, having the right consultant to provide a second opinion helps to avoid any pitfalls.
To alleviate fears of non-compliance
If your R&D tax submission resulted in an HMRC enquiry, this would be stressful due to the risk of the claim being rejected or even a penalty being imposed. When you join forces with randd, you are assured of full support throughout the entire duration of the process.
Understanding the scope of R&D
Submitting an R&D tax claim is not simply a numbers exercise – it encompasses various requirements involving not only accounting records but also detailed analysis from an R&D expert in your industry. Our experienced team of sector specialists can produce a bespoke technical report.
Greater expertise than other providers
If you are simply utilising the services of a regular high-street accountant for your R&D tax claims, they are highly unlikely to have the depth of expertise possessed by our team. We bring to the table not only the time to fully understand your business and all of its R&D activities, but also an exhaustive knowledge of the process.
Why Should You Change Your R&D Tax Provider?
Companies claiming R&D tax credits need to be aware that the smallest oversight in their claim can have major consequences towards the success of their submission.
HMRC carry out random spot-checks and will question any inclusion that does not align with their definition of a valid claim.
If you are submitting the claim yourself, or are relying on your accountant or even another service provider, are you sure the appropriate time and resources are being devoted to what can be a hugely beneficial process for your company?
At randd, there are no distractions. R&D tax is all we do, and every one of our consultants has a full understanding of exactly what is required to make a successful claim.
Businesses which have experienced frustrations with other advisers, perhaps due to a lack of thoroughness or qualifications, come to randd because we go beyond the obvious – and we have proven our ability to uplift recently submitted claims, even to a factor of nine times more tax relief than an alternative provider.
Help With HMRC R&D Enquiries
Much of our business stems from taking on HMRC rejections that were submitted by other R&D tax providers or the client themselves.
Problems occur when those submitting the claim are not sufficiently educated in the market and the result is sub-par, especially in regard to meeting compliance requirements, and consequently they lack the technical expertise to defend it.
However, teaming up with randd averts such difficulties.
When an enquiry from HMRC is received, it might merely comprise a letter containing a few questions which are simply seeking some brief clarification. This is usually the case when randd submits a claim – a short query to stress-test the validity of the R&D project undertaken.
By contrast, HMRC can also issue 40-page documents when they have significant concerns about a submission. We are happy to step in and help when clients find themselves in this position – but working with randd from the outset is likely to eliminate the potential for this to happen.
What Our Clients Say
It doesn’t have to be the case that randd works independently from accountants on R&D tax claims. We have the resources to take on many cases where additional expertise is needed, as the following testimonies from accountants attest:
“If we identify an opportunity for an R&D tax claim for a new or existing client, we can arrange a chat with the team at randd uk for them. Ryan and the team can then assess the claim and decide if it’s worth exploring. We trust each other a lot now and we can work together to screen client projects. It makes sure everything is done efficiently and we don’t waste anyone’s time. We certainly don’t recommend anyone else.”
Jack Little, Director, Lane Monnington Welton.
“We’ve been working with randd for over 10 years and they have helped us with many of the claims we’ve done for our clients. We’ve found lots of clients would be better serviced if we partnered with a firm that dedicates 100% of its time to R&D tax. The team at randd UK speak the language of our clients. If we didn’t have randd supporting us, it would be more of a challenge for us. randd make sure we stay compliant and that we appropriately navigate enquiries.”
Andy Turner, Partner, Mark J Rees LLP.
“It was important for us to work with a well-established R&D tax provider. randd has a sensible but not overly conservative approach to R&D tax claims, which works for us. The team at randd are always willing to pick up the phone and answer our questions, and the knowledge they provide to us as a team is great. It’s a collaborative relationship which works really well. We’d definitely be happy to recommend randd to other firms in a similar position – you need to have providers you can rely on, and we can rely on randd.”
Ollie Turner, Tax Partner, Verallo.
Why Switch to randd as Your R&D Tax Consultant?
We have assembled a team of professionals whose expertise covers every sector and every possible challenge that those in the R&D tax credits space may encounter.
With randd in your corner, you will receive an end-to-end service throughout the claim process for which nothing is payable unless you receive a successful award from HMRC.
After an initial discussion to establish your eligibility for a claim, you will be allocated a project manager to oversee the writing of your technical report by a specialist with the appropriate sector background. This will be produced following a two-hour elicitation in which we will obtain all the relevant information and costings about your company’s R&D activities.
Keeping you fully informed throughout the process, you can be assured of our commitment through to the moment your award is received – standing right by your side in the event of any enquiries from HMRC.
Get in touch by calling 01332 409711 or via email at [email protected]
Frequently Asked Questions (FAQs)
Even if you are submitting successful claims yourself or via an accountant or alternative R&D tax provider, you may not be fully maximising your potential. There could be more funds available that would benefit your company.
They should be thoroughly assessing all your R&D projects and working with you through each stage of the process. Do you think all the appropriate expenditure is being included and resulting in the highest possible value of your claim? If not, contact us.
We realise R&D tax is a complex subject and that not every company executive has the time to keep fully conversant with the evolving guidelines and definitions. Get in touch with us about anything you are unsure of.
Yes. You can claim up to two years after the end of the accounting period the R&D expenditure relates to.
An indicative guide can be obtained by using our free R&D tax calculator.
We understand it is often the easiest option to simply stay put. But the holistic service we offer, with our expertise in R&D tax legislation, claim processes and HMRC practices, and most importantly an unrivalled success rate, means we are the go-to specialist in this field.