When it comes to research and development tax credits it generally all boils down to Casrad's insight and experience, because  not everyone understands or talks the language of HMRC. 

Not everyone in a business talks the same language, from the engineer to the FD to the MD, you all have a different view on the world. We use our years of experience to translate the rules and regulations. 

Beyond that we also have a huge knowledge of taxation and we can, if needed, advise you on how best to deploy the funds generated by a claim to help develop your business.

Firstly, you need to identify whether you have carried out any projects that fall within the relevant guidelines. If you do have qualifying projects, you then need to explain why and how your projects meet the guidelines plus identify your eligible spend. Finally, you need to include your qualifying spend within your company tax return and file this along with your detailed report with HMRC’s specialist R&D Unit for review and processing – or for them to ask any questions… 

It’s a good job that we’ve been through this process 100’s of times. As qualified accountants, we work directly with companies to help them navigate the rules and prepare and file the detailed report and claim calculations. We also provide support to other accountancy firms. You don’t need to ‘leave’ your current accountants to work with us – we just add to the great work that they’re no doubt already doing for you.

According  to the HMRC website the average claim size for Research and Development Tax Credits sits at £53,876. But thats not to say you can claim more depending on size and scale of your projects. 

*It is not often that HMRC will put cash into your bank account but that is exactly what happens for our clients. Many receive these sums (often well in excess and into six figures) each and every year as they continue to invest in developing new or improved products or services. And the funds are deposited within 4-6 weeks of submission of the claim.

*In summary, the UK R&D tax credits incentive is one of the most generous tax reliefs currently available in the UK. It is a vital source of funding for many companies from startups to fast growth companies and international groups