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Wednesday, 16 September 2015

Member Blog: 5 Tips for Making a Successful R&D Tax Claim

By Managing Director of R&D Tax Claims Limited, Mark Evans FCA
There’s no denying that making an R&D tax claim can be incredibly valuable to your business, but how do you ensure that your claim is approved?  At R&D Tax Claims Limited we make it our business to help you maximise and speed through your claim, and our 100% success track record speaks for itself. Here are our top 5 tips for making sure your claim makes the grade:

1. Formalise your developments

Don’t let your hard work go unrewarded – make sure your company has the right protocols in place to help you get the most out of your research and development.

2. Keep records

Keep hold of your paperwork relating to any R&D projects and their qualifying costs.

3. Keep your staff up to date

In order to get the most out of your claim, you’ll need the help of all involved parties.  Speak to any staff involved with your research and development – ask them to help you gather technical and financial information relating to your claim, and keep them up to date on any developments.

4. Provide a report

Explain the technical justification for your R&D claim in the form of a comprehensive report.  This report should explain in layman’s terms the R&D activities undertaken and what technological or scientific uncertainties had to be overcome to achieve a significant advancement.

5. Don’t delay

You can claim for R&D relief on your company tax return, but your claim must be made within two years of the end of the accounting period in which the expenditure was incurred, so don’t lose what is rightfully yours, act today.

R&D Tax Claims Limited are here to help you with all of the above.  We operate a strict ‘no win, no fee’ policy, and our simple and risk free 6-step process enables us to take care of the hard work for you.  We have a long-standing relationship with HMRC and our efficient process ensures you get the maximum refund possible – to date we’ve secured our clients in excess of £18million in tax savings.

If you’d like to find out more about how we can help you, get in touch with our Shrewsbury or Warrington office today.

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