R&D tax reliefs are far from straightforward, even for professionals. The 2023 and 2024 legislative changes have created further complexity including non-intuitive transitional arrangements.
Please note that for most periods of accounts, it is necessary to identify the intention to make R&D tax relief claims WITHIN 6 months of the end of the period. This is often before many accountants complete the preparation of the company’s Accounts for the year.
If you are an Accounting Practice, we are happy to assist you or your clients to qualify and scope potential R&D claims. If claims are considered appropriate and worthwhile we can provide a range of types of support both for new claims and to provide support during HMRC enquiries.
R&D Self Service and AI Platforms
Whilst these might seem attractive, we have extensive experience of having to unravel and correct inaccurate and incorrect claims made by companies and their advisors using these platforms. If your client company wishes to make R&D claims that potentially involve any of the characteristics listed below, please be extremely wary of using such platforms.
Claim or company characteristics:
- Received grant funding
- Have connected companies
- Have Associated companies (greater than 25% ownership)
- Have Capitalised intangibles
- Have non-UK R&D activities or staff
- Re-use prototypes.
Contact Us
If you have any customers that you think would benefit from specialised knowledge, or if you would just like some more information please get in touch on 01923 750400 or email nickcook@randdtax.net.