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The Importance of Working with Tax Credits Experts

Author: Gareth Smyth

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.

Could you be eligible for an R&D Tax Credits claim?

During these turbulent economic times, businesses across the country are looking for solutions to their cash flow problems. Many companies are looking for grants and loans and overlook the fact they could be eligible for R&D Tax Credits. By successfully claiming R&D Tax Credits, your company could receive a cash injection from HMRC in as little as four weeks.

Call our experts today on 01332 477 070 for a free, no obligation eligibility consultation. Your business could be our next success story!