Blog

MSC R&D’s R&D Tax credit and grant client base boasts some of the UK’s most innovative companies, all in high-technology sectors. Many of these are focussed on the Internet of Things. A recent techUK blog makes interesting reading on the challenges facing companies operating in this sector.

Technical due diligence can be an essential component of the technology company investment cycle, whether you are a Private Equity firm, investment bank, or acquiring company.

HMRC goalposts have recently moved as Software R&D projects that were previously considered to meet HMRC R&D Tax Credit guidelines may not now qualify because ‘technological capability has increased over time’.

With the continuing growth in R&D Tax Credit claims comes increased scrutiny by HMRC to ensure claims are accurate and compliant and that companies are not abusing the system.

At MSC R&D we know that accountancy firms have differing needs and are often looking for ways to offer even more comprehensive and expert services to their clients MSC R&D offers a flexible partnership proposition for accountants: a value added tailored service to deliver practical, operational, commercial and technical benefits.

“Because the purpose of business is to create a customer, the business enterprise has two – and only two – basic functions: marketing and innovation. Marketing and innovation produce results; all the rest are costs. Marketing is the distinguishing, unique function of the business.” (Peter Drucker)

Continual investment in research and development is crucial to businesses if they are to remain competitive – and this requires a constant injection of cash.

If so, have you had a survey of your property to highlight the embedded fixtures & features (PEFFs) that qualify for tax relief?

So, you are thrilled with the money you’re claiming back for R&D and you’re geared up for annual claims in the future.

In R&D Tax Credit terms, the definition of a ‘Successful’ claim is one that is both optimised and compliant. Just ‘winging it’ with a claim is a bit like driving a car with no insurance – not a problem till you have an accident (or in this case a HMRC enquiry which may well cause […]