HMRC compliance is a key feature of the new R&D Tax Credits landscape:
- More inspectors
- More numerous and more stringent enquiries
- It is more important than ever to get it right!
- Compliance, Compliance, Compliance!
You need confidence and support when putting your R&D Tax Credits claim together – particularly with software claims.
In short, you need an advisor who understands your technology and how the rule book applies to it. HMRC utilize software specialists – use someone who knows the detail of what projects you are claiming for and why. Technologists make the difference.
FINDING THE RIGHT ADVISOR
BUT – sorting the wheat from the chaff in an increasingly crowded market is not easy.
There are basically four types of ‘advisors’.
- R&D specialist firms – many are sales & marketing outfits with little or no R&D or Tax expertise
- Self-service, semi-automated providers – who rely on the client’s own judgement on R&D qualification
- Accountancy firms – who increasingly see R&D Tax Credits as an easy-win service offering
- Established advisors – a mixed bag, some reputable, others less so!
A good advisor offers both technical judgement of the R&D and expertise to resolve an enquiry. They will also have some creditable testimonials from sizeable software companies.
Public information can help
If not sure about an advisor, check them out on LinkedIn and Companies House – a good way to get an overview of their age, size and experience of employees.
Why self-prepared DIY claims should be avoided
DIY claims can be high-risk in the current environment – defending HMRC enquiries are time consuming and can have wider implications to a business, once they are on HMRC’s radar.
Alternatively – a too cautious approach can result in eligible expenditure being missed.
And, if external investment is a part of your road map, an increasing number of VCs are carrying out Due Diligence on R&D Tax Credit claims.
Optimisation vs Compliance
Robust HMRC compliance goes hand-in-hand with claim optimization.
At MSC R&D we can provide various levels of review of previous claims on a case by case basis, thanks to our quality processes and expert
ex-HMRC resource. The majority of these result in an improvement in either (or both) compliance or claim value.
WHY MSC R&D?
- Established in 1990
- A team of highly experienced technical and tax experts
- Specialists in Software claims – the bigger the better
- Fast-track process which minimizes your time and effort
- Compliance and optimisation assured
- Full support
Contact us to discuss your claim.
