Research and Development (R&D) tax relief is awarded to businesses that invest in innovation. This innovation can be in the form of developing new systems, processes, products, materials, devices, or any changes to the way your business works.
To benefit from R&D tax incentives, you must:
Day 1: Initial Call
A conversation to understand if you are eligible for the benefit, where we determine if we can work with your company
Day 2: Begin the process
Initial conversations followed by gathering of technical information on your projects
First Two-weeks: Cost collection exercise
Cost collection – completed once the technical information has been gathered
End of 1st Month: R&D report submitted to HMRC
Finalised package to be submitted to HMRC – this will include the technical and financial aspects of the claim
End of month 2: Receipt of money from the revenue
Your benefit is paid out within 28 days (on average).