HERE ARE OUR TOP TIPS ON HOW TO MAKE A SUCCESSFUL CLAIM
Have you made, or are you planning to submit an R&D tax claim this year?
R&D Tax Claims Limited, run by R&D tax expert Mark Evans and his team of experienced engineers, have seen at first hand the growth of this very attractive tax incentive over the years, successfully claiming £3,150,055 for their clients in 2017, an 18% increase from 2016.
Since 2009, Mark has claimed £6,268,080 for Made in the Midland’s members alone at an average of £160,720 per company. Over the last couple of years many more companies have set up to offer R&D tax support, but do they offer value for money and what are the pitfalls you should avoid when appointing an R&D tax consultancy.
Is the R&D tax expert right for your business? In this competitive market, many consultancies are offering attractive packages to claim R&D tax relief, but often these can be unrealistic. At R&D Tax Claims, we recommend clients ask the following of a claims company before choosing them.
What is their history? Do they have experience in your sector and industry experts who can translate your R&D into an easily understandable format for HMRC to understand? R&D Tax Claims specialise in tax claims for engineering and manufacturing SMEs.
Do they charge an upfront fee? No claim is guaranteed, a professional R&D expert won’t ask you to pay upfront.
What is their enquiry record? Have they had any claims turned down? R&D Tax Claims have a 100% claim record, which we’re happy to discuss with clients to provide reassurance.
What work is done by the consultancy and what is responsibility of the client? If you are being asked to do the majority of the work, you are not really benełtting from the R&D support. The vast majority of the work, including compiling the R&D report to back up the claim, is carried out by the team at R&D Tax Claims.
Ultimately who you work with, is the key to making a successful and signiłcant R&D claim. Mark who has managed over £30m of claims since 2009 said: “In my opinion there is nothing more important for an innovative SME to do than make an R&D tax claim using a reputable R&D consultancy that combines the best engineering experience with up to date tax knowledge. In terms of the time required by the client, there is absolutely nothing more valuable that a management team can do with their resources.
“Just ask yourself the question, how much time and resources are needed to make the parts that add £60k to the bottom line. With the right R&D tax consultancy this can be achieved with little more than a couple of days effort from the MD, FD and senior technical staff!”
To discuss a tax refund for your business, call Mark Evans at R&D Tax Claims on 0845 003 0140 or email [email protected]