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R & D Tax Credits

National Average R&D Tax Credit Claim:

£42,000

Business Solutions (Midlands)
Average R&D Tax Credit Claim:

£62,000

R & D Tax Credits Claim

Midlands caravan accessories manufacturer successfully claims:

£50,000

 
 

Research and Development Tax Credits

Common Issues Companies face when attempting to compile an R&D Tax Credit Claim

The following list highlights the main issues companies face when attempting to compile their own R&D Tax Credit claim:

  • Interpretation of qualifying criteria, companies failing to recognise eligible costs
  • Changing legislation may lead to incorrect claims
  • Generation of robust documentation to support the claim
  • Definition of an SME and difference in criteria between large company and SME
  • Time required to bring claim together
  • Knowledge of the process to make a successful claim

During the course of our work to date, we have found that many companies struggle to compile and complete a satisfactory R&D Tax Credit claims themselves; simply by not having the time or knowledge of the process, or an accurate understanding of the eligible business costs to achieve a successful outcome. We have also found that many Tax Credit claims submitted by a company have been significantly less than if an outside body like Business Solutions (Midlands) Ltd had undertaken the work on the company’s behalf.

 

Am I eligible for R&D Tax Credits?
What are the costs for R&D Tax Credits?
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What is the R&D Tax Credit claim process?
Top tips for R&D Tax Credit claim success
What are R&D Tax Credits?
R&D Tax Credit claim case studies

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