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One of the key advantages of working with tax credits experts when claiming R&D Tax Credits, is the support your company receives throughout the process. This is even more important when a case is disputed, as one of our clients recently discovered.
The West-Midlands based plastics acrylics and composite materials manufacturer had recently had their R&D claim challenged by HMRC. randd was able to put forward a strong case highlighting that the company’s projects are R&D qualifying, under BEIS guidelines, and that the costs submitted were a fair reflection of the R&D involved in those projects. This resulted in the company receiving the full amount of R&D Tax Credits they were entitled to.
Tax enquires into R&D Tax Credit claims are common, especially since the HMRC has hugely increased the resources and staff in their R&D units to police the scheme better and to eliminate instances of fraud, over the past 12 months.
We understand it is important that only genuine R&D activities are rewarded, as this improves the quality of the scheme and is all designed to put ‘uk plc’ at the forefront of world-beating science and technology.
However, HMRC’s R&D Tax enquires can be navigate and even where genuine R&D activity is taking place, it’s sometimes difficult to illustrate this, which is why it’s important to have a specialist R&D tax advisor to hand to defend your claim should such an enquiry occur.
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