Our tried and tested process for Research and Development (R&D) tax credit claims ensures you receive the maximum benefit available to you.
We follow a simple 5 step process for your R&D claim journey which can be seen below.
Our standard process is set out below and usually takes 4 – 6 weeks to complete.
A member of our team will arrange a call or meeting to discuss the Research & Development activities that the business has undertaken during the year. This can be with the owner(s)/director(s) or the employee(s) who are working on the Research & Development activities.
We will identify the activities and costs associated to the R&D claim.
Utilising the notes from the discovery meeting and the records that you keep, we will collate all of this information to maximise your R&D claim.
Using the information provided and what we have found, we will calculate the claim you are entitled to and write a report for your review.
The report and calculation will be submitted through our online portal for your review and approval. A simple e-signature is required to enable us to submit.
Once you are happy with the report and claim that we put together, we will submit your report and either submit your Corporation Tax Return (CT600) or amend a previously submitted tax return.
We will work with HMRC if there are any queries raised and we are able to monitor the progress of the claim by working closely with HMRC.
HMRC usually takes up to six weeks to process an R&D claim, RDEC can take a little bit longer.
If your business is profitable, your overall Corporation Tax liability will be reduced.
If your business made a loss for the period, you will receive a cash refund.