Research and development tax credits are designed to encourage greater R&D spending and investment in innovation. They work by either reducing your company’s liability to corporation tax or giving you a cash payment.
Our proven 5 Easy Steps claim process includes meeting an Easy R&D Consultant and submitting information online. We will guide you through the information needed for your R&D tax relief claim. You can provide this online in your own time and at your own pace.
5 Easy Steps was developed because clients are reluctant to commit their valuable time to lots of on-site meetings – the traditional R&D tax claim approach. Our R&D Consultant will always be on hand to collaborate on the claim with you. Easy R&D’s average R&D tax claim is around £50,000. Over 600 have been submitted by our in-house team of chartered tax accountants and professional technical report writers.
Our R&D Consultant will call you to understand your research and development activities and arrange a visit. At the meeting they’ll discuss your R&D projects and eligibility for tax relief. Our service offers technical and specialist tax expertise to maximise R&D tax relief claims. If you wish to take the next step we’ll send you an engagement agreement, authority to act as your agent and details about our online portal.
Using our online portal you’ll be guided through a series of financial and technical questions. These include costs for things like utilities, staff, consumables and prototypes. We’ll also ask you to upload the last 2 years full company accounts and corporation tax computations from your accountant. On the technical side we’ll prompt you to briefly describe your R&D activities and anything new you’d like us to consider since the initial meeting.
Our experts will take the technical part of the information you’ve provided and research the scientific or technology to ensure there is a robust R&D claim. At the same time a chartered tax accountant will assess the financial implications of the R&D project(s) and collate eligible costs for the claim. Sometimes they will arrange a conference or Skype call with you to work out how to strengthen the R&D narrative and maximise your claim.
Our claims team will finalise your R&D tax credits claim. This includes technical information, eligible financial costs, revised CT600 corporation tax computations and a compliance summary. After you’ve approved the finalised claim we submit online to one of the specialist HMRC R&D units and liaise with them on any queries. We take full responsibility for claiming on your behalf and will only involve you if absolutely necessary.
HMRC aim to process claims and release any payment within 6 weeks.
Our R&D Consultant will stay in touch to suggest any R&D project record keeping and further R&D tax credit claims in subsequent years.