Why your start-up needs to understand R&D Tax Credits

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Ensure your company gets the best start by taking advantage of this government incentive.

Starting a business is one of the most exciting and exhilarating times in your life. Your business is your brainchild with all your efforts going into nurturing your ideas. It also takes a huge amount of courage and commitment to finally take the plunge into the start-up world.

Much of the planning of setting up your business will have been centred around branding, how the business will operate, what the website will look like, but not much thought will go into what the government can offer you as incentives. For some start-ups, the notion of R&D tax credits does not even cross their mind.

We are giving you the opportunity to learn about R&D tax credits so that your business gets the best possible head-start. With this government tax relief, you can give your new company a much needed boost.

 

Why does my start-up need R&D Tax Credits?

We don’t mean to scare you if you have just set up a company, but the fact remains that studies from Company House show 8 out of 10 start-ups fail within their first year. While the UK has become a hub of entrepreneurial spirit and flair, many companies find it tough in their first year due to underestimating competition and, crucially, a lack of financial planning.

One of the reasons start-ups run out of steam is running out cash. A key job of the business owner is properly prepare the business financially, to lead to a positive cash flow.

In a start-up it is fairly easy to focus on driving revenue and looking at profits, while ignoring the implications of insufficient cash resources.  Cash flow management is crucial in ensuring employees and third-party suppliers can be paid, ensuring operations can continue undisturbed.

There is also a lot to think about when running a start-up. Hiring staff, buying supplies, working out the dynamics of your team, looking out for competitors. With all of this going on, R&D tax relief can seem like a bridge too far for many. Many entrepreneurs believe it is something to come back to when their business is further down the link. This is wrong, as R&D tax credits can get start-ups through that initial cash-flow rocky road.

 

 What are R&D Tax Credits?

R&D tax credits, or research and development tax credits, were created in 2000 by the UK government to help small and medium enterprises (SMES) invest in innovation. This is due to the UK government wanting businesses to flourish and compete on a global scale.

Paired with special funding, grants, and various other hand-outs, R&D tax credits now help small businesses like yours put money into experimentation, research and development, without having to worry about the cost of any losses.

The relief works by either reducing a company’s liability to corporation tax or by making a direct payment to the company.

The research and development has to be focussed on advancing industry level knowledge. If the research could be carried out by a reasonably competent professional in that particular field, you may have trouble convincing HMRC of the validity of the claim.

This may sound like a difficult task. However, we have learnt through experience to teach SMEs and start-ups to never assume the work you are doing doesn’t qualify for the tax relief. Always ask a tax relief expert, as they may be able to identify some part of what you are doing that can attract help.

 

How much are R&D Tax Credits worth to my start-up?

A staggering £21.4bn has been claimed in tax relief since 2000, in the form of 240,000 claims.

Most start-ups would come under the SME R&D tax relief scheme. This means relief for start-ups can be as much as 230% of qualifying R&D costs if you are a small or medium sized enterprise. You can claim R&D tax credits on day-to-day costs and qualifying expenditure, including costs for staff, subcontractors, materials, software and utilities.

Even if your start-up is loss making, you can claim 14.5% of the loss as a tax credit.  This equates to up to 33p for every £1 spent on R&D as a cash payment from HMRC. No start-up doing R&D work that might qualify can afford to ignore that sort of assistance.

In addition to this, and crucially, the work done on research and development does not actually have to be successful to qualify.

For 2016-17, £3.7bn was claimed by SMEs up and down the country, at an average of £53,000 per claim.

 

How can RDTaxCredit.org.uk help?

RDTaxCredit.org.uk help companies across all sectors with claiming R&D relief, leaving them with more cash to re-invest into their business. We have of experience in dealing with many start-ups across the UK.

CEO of rdtaxcredit.org.uk, Samantha Holloway, said:

Entrepreneurs and owners of start-ups expect to work hard for funding, so they can initially be sceptical about this benefit. They think it is too good to be true.

However, R&D tax credits are a legitimate government program that rewards investments in innovation. It is a benefit every start-up needs to know about.

Our Team of Chartered Tax Advisers ensure you have a robust claim that identifies qualifying R&D and the associated costs.

We can assist in preparation of the R&D claims and submission of the claim to HM Revenue & Customs.

We handle the R&D Claim from start to finish & we produce the technical report on your behalf that helps R&D Tax inspectors understand your work and approve the claim

At rdtaxcredit.org.uk, we understand that beginning to think about claiming R&D Tax Credits may be a little daunting. We want to help you through the process, to ensure you receive the financial reward that the Government wants to give you.

We offer a friendly and professional approach to R&D Tax Credits which includes:

  • A free no obligation initial review.
  • 100% success rate
  • 30 day quick turnaround

If you would like to contact one of our experts for free initial advice, complete the quick enquiry form to receive a no-obligation review of your R & D Tax Relief claim.

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Six crucial growth tips for SMEs and start-ups

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Starting a business is one of the most exciting and exhilarating times in your life. Your business is your brainchild with all your efforts going into nurturing your ideas.

It can be a daunting time, however, with so many questions surrounding the running of the business.

SMEs and start-ups are the lifeblood of the UK economy, and up and down the country each one has a different challenge to tackle every day. Sometimes, we need a little help to grow our business.

Here, we are giving SMEs and start-ups the opportunity to read through our six thorough tips about how you can grow your SME, above and beyond.

 

  1. Pinpoint your perfect customer

Identifying an ideal customer or client for your business is vital in making sure you do not stretch your business efforts too thinly across too many demographics. Knowing the perfect customer will give you tunnel vision in relation to all business activity, meaning you will be more likely to hit the right markets.

This can be in relation to how your brand comes across, how your website works, whether you have a client-facing store on the high street and, more generally, how your business is run. If you do not do this, you run the risk of getting your brand in front of the wrong people, at the wrong time, and losing potential sales.

A great way to find your ideal customer is to do create different “buyer personas”, in which you hone in on demographics and behaviours. In this process, you will go through where your perfect customer is likely to discover you, how much they are willing to pay for your service, and what their pain-points are.

 

  1. Research your industry

Before your SME can grow, you need to know exactly where you stand within your market. Without doing proper market and competitor research you are shooting in the dark in relation to business goals and how to go about achieving them.

Researching competitors can give you insight into what works for them and what doesn’t. You can then take their good bits and make them better, and ensure you better them by removing the bad bits. Find holes in their products and services and highlight your products or services to potential customers as a better alternative.

Industry research, in a broader sense, can also bring key learnings to your business. Are there statutory changes coming into place that may affect the market? Perhaps there is a new technology that can enhance your industry that you are missing out on?

Constantly asking questions about your industry and competitors can mean you stay on top in the long term.

 

  1. Create a purpose

When you first thought about starting a business, what made you excited about it? What made you take the plunge and put it all into your brainchild? Take that excitement and enthusiasm and run it through your business. Create the same passion you have for your business in your staff and your clients.

You can do this by creating a purpose for your business. Having a purpose not only makes marketing your business more coherent, but it can also influence business decisions, because it can reinforce them.

It can be as simple as providing enjoyable coffee to customers at a reasonable price, with a smile on your face. Or as complicated as creating new technologies to help the medical industry. Whatever your purpose is, always go back to it when you face questions about your SME.

This can also help create a strong culture within the company, ensuring staff have clear core values to adhere to.

 

  1. Cash is King

This is one the first concepts you learn in business school. However, in an SME or start-up, managing cash flow is even more important. In an SME it is fairly easy to focus on driving revenue and looking at profits, while ignoring the implications of insufficient cash resources.

Cash flow management is crucial in ensuring employees and third-party suppliers can be paid, ensuring operations can continue undisturbed.

It is a good idea to maintain some cash reserves where possible. SMEs willhave cash shortfalls every now and then, that much is inevitable. However, depending on how prudent you have been in relation to cash reserves can determine how well you can manoeuvre those shortfalls

In addition to this, keeping a regular and updated cash flow spreadsheet and forecast can help SMEs predict any future problems that may arise.

 

  1. Protect your business

If you own an SME, it is probably one of the most important aspects of your life. However, so many people overlook potential minefields and hazards that could bring their business crashing down.

While there are a whole host of things to protect against, the two main issues are:

  • Protecting your Intellectual Property

This involves anything that you have created in relation to your business. This could be business name, logo, website etc. By registering copyright and trademarks you can protect your creative works and ensure a potential competitor doesn’t steal any of your work. If you do have any IP that is valuable to your business, make sure it is protected.

 

  • Insuring your business

You’ve insured your car, home and pet, but haven’t insured your business? If something goes wrong, insurance can stop your business from losing huge amounts of money. This can include employer’s liability insurance, public liability insurance, professional indemnity insurance, and building and contents insurance. What type of business you own will depend on what insurance you need, but whatever you do, do not overlook this vital part of running a business.

 

  1. Understand there is help for you

While running a business can sometimes be a lonely, unforgiving place, be reminded that the UK does want you to succeed and progress your business – You’re not alone.

The UK business community wants businesses like yours to prosper so the economy can grow. For this reason, there are numerous ways businesses like yours can get funding schemes and grants. These include Princes Trust Grants, Launchpad grant funding, Small Business Research Initiatives, Heritage Lottery Fund Start-up Grants and the Grant for Business Investment.

A rapidly growing scheme in this arena is the R&D tax credit scheme. The UK Government is aware that Britain is world-renowned for being a force in innovation and research. However, innovation is not cheap, so back in 2000 they introduced R&D tax credits.

These tax credits were put in place to encourage innovation in UK companies, in order to ensure they can compete with the biggest global superpowers.

A staggering £21.4bn has been claimed in tax relief since 2000, in the form of 240,000 claims. This amount has been claimed by SMEs just like yours.

 

How can rdtaxcredit.org.uk help?

This is where rdtaxcredit.org.uk come in. Our experts can guide you through the R&D tax credit process, taking you through the process of which grant is right for you, knowing what you can and cannot claim for, and being able to write the perfect technical narrative which is vitally important in the claim process.

At rdtaxcredit.org.uk, we understand that beginning to think about claiming R&D Tax Credits may be a little daunting. We want to help you through the process, to ensure you receive the financial reward that the Government wants to give you.

We offer a friendly and professional approach to R&D Tax Credits which includes:

  • A free no obligation initial review.
  • 100% success rate
  • 30 day quick turnaround

Contact one of our expert advisers today for a free initial review, and see if you can claim back some much needed tax relief.

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How will Brexit affect R&D Tax Credits?

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Will the Government incentive for research and development be affected after Brexit is invoked next March?

It seems to be the word on everyone’s lips – Brexit. And rightly so, as many companies are gearing up for a brand new world outside of the European Union after 29 March 2019.

Opinion is still split, but early indications are predicting a turbulent time for UK business. Data analysis by Magic Circle law firm, Clifford Chance, has suggested that automotive, agriculture, food and drink, and chemicals and plastic industries will be hit the hardest, with tariff and non-tariff costs reaching up to £27bn for exporters.

This means now, more than ever, companies need to be astute in regards to financial planning, including tax planning.

With this in mind, Brexit is an area we have been asked about a lot, as many companies are concerned that the R&D Tax Credits they have come to benefit from will be taken away, or reduced. Below, we discuss this matter and try to ease any fears.

Does the EU have anything to do with R&D Tax Credits?

R&D tax relief is a UK Government-run incentive, so on the face of it you would assume that the EU do not have any power in relation to the tax relief. However, R&D tax relief comprises of two separate schemes running parallel to one another.

The first is the RDEC, or the Research and Development Credit scheme, formerly known as the Large Companies Scheme. This scheme is aimed at larger companies, with more than 500 employees and a turnover more than €100 million (or a balance sheet more than €86 million).

The second is the SME scheme, which to the UK is far more lucrative than the RDEC scheme due to the amount of businesses that fall into this category. This scheme is regulated by the EU, operating under what is known as the State Aid rules.

State Aid legislation ensures that EU members do not assist companies over a certain amount, in order to avoid potentially distorting competition among member states. It is a cap that ensures no EU member obtains an unfair advantage by subsiding R&D tax relief more than an agreed amount.

After Brexit, the UK Government will be free from EU regulation in relation to a subsidy limit, meaning this cap will be potentially removed. If this is the case, our prediction is that R&D tax relief would be a massively important element of the UK’s R&D policy, particularly in relation to SMEs.

 

Will R&D Credits still exist after Brexit?

It is hard to talk in absolute certainties in relation to anything Brexit related, so we will tread carefully here.

However, from the impression we are receiving from the UK government, and going off past policies in relation to R&D, we can deduce a number of positives. Theresa May’s post-Brexit government has already recognised the importance of stimulating business in the UK through R&D grants. In fact, their own studies have suggested that £1 of R&D tax relief leads to £1.53 – £2.35 back in expenditure, stimulating the UK economy, whilst fuelling innovation.

The government also showed their willingness to support R&D tax relief in 2012 when it lifted the cap on payable tax credits. It also demonstrated a commitment to the tax relief in last year’s Autumn Statement when it increased the RDEC tax relief from 11% to 12% for qualifying expenditure incurred after 1 January 2018.

The most recent budget saw positive steps too, with the government committed to raising the total R&D investment to 2.4% of GDP by 2027, a reported extra £1.6bn.

So, from the general attitude towards R&D tax credits from the UK government, we can deduce that a post-Brexit UK will still see this government incentive thrive.

 

What can my business do before Brexit?

While we would like to know what a post-Brexit Britain looks like, none of us have a crystal ball. A lack of the details in relation to no-deal, hard and soft Brexit, can leave hard-working companies in the UK left in the dark a little in regards to what their next steps are.

Our advice is this – in the uncertainty of Brexit it is now more than ever companies need to be prudent with their tax relief efforts. We can predict with a fair amount of certainty that R&D tax credits will exist after 29 March 2019, meaning that companies should be thinking now about their tax relief.

We will believe the R&D tax funding system will remain healthy, with more and more businesses applying for relief – an average of £53,000 per claim.

 

How can rdtaxcredit.org.uk help?

At rdtaxcredit.org.uk, we understand that Brexit can be a minefield to even begin to think about. Add the idea of claiming R&D Tax Credits, and all seems a little daunting.

However, we want to help you through this process, to ensure you receive the financial reward that the UK Government wants to give you.

We offer a friendly and professional approach to R&D Tax Credits which includes:

  • A free no obligation initial review.
  • 100% success rate
  • 30 day quick turnaround

If you would like to contact one of our experts for free initial advice, complete the quick enquiry form to receive a no-obligation review of your R & D Tax Relief claim.

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Report reveals R&D Tax Relief Claims are rising

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If you are not claiming this Government incentive, the chances are your competitors are.

Last month the Government released new figures in relation to companies claiming R&D (research & development) tax credits, and the outlook is positive.

In the eighteen years the tax relief incentive has been implemented, there is an upward trend of UK businesses discovering and utilising the initiative. Over 240,000 claims have been made in that time – a total of £21.4bn being claimed.

 

What are R&D Tax Credits?

The UK Government is aware that Britain is world-renowned for being a force in innovation and research. However, innovation is not cheap, so back in 2000 they introduced R&D tax credits.

These tax credits were put in place to encourage innovation in UK companies, in order to ensure they can compete with the biggest global superpowers.

Paired with special funding, grants, and various other hand-outs, R&D tax credits now help businesses put money into experimentation, research and development, without having to worry about the cost of any losses. They work by either reducing a company’s liability to corporation tax or by making a direct payment to the company.

These tax credits can help companies of various sizes across different industries take on new innovations that can get new products onto the market, or re-invent existing products to make them more efficient.

 

R&D Tax Credit Claims are on the up

For 2016-17, 39,960 R&D tax credit claims were made, with over 34,000 of these being made in the SME R&D scheme. This figure is still incomplete, however. Due to the delay in reporting, this figure is expected to rise, meaning the amount will equal the highest ever tally in the 18 years since the tax relief initiative has been in place.

The Government report also hinted at businesses understanding the claims process a little more. The total amount of R&D support claimed by businesses actually increased by a staggering 25%. It would seem this was due to businesses having a better understanding of what they can and cannot claim for.

This brought the total claimed for 2016-17 to £3.7bn, an average of £53,000 per claim.

 

What kind of companies are claiming R&D Tax Credits?

The HMRC report shows that the sectors that benefitted the most from this tax relief in 2016-17 were:

  • Manufacturing;
  • Professional, Scientific and Technical;
  • Information and Communication

These sectors had the greatest volume of claims. Combined, they accounted for a total of 71% of all claims, and 75% of the total amount of money claimed for 2016-17.

However, this figure may be slightly misleading, as many more companies can, and do, apply for tax credits. Currently, the industries that can apply for R&D tax credits include, but are not limited to:

  • Audio and Visual
  • Building Technologies
  • Commercial Printing
  • Creative Digital and Media
  • Food and Beverage
  • Health
  • Manufacturing and Engineering
  • Marine
  • Motor Racing
  • Pharmaceutical
  • Software Development
  • Technology
  • Telecoms
  • Web Development

The tax relief also covers both SME and large companies, in all of these industries, with SMEs taking up the majority of claims.

 

Ensure your competitors aren’t getting one up on you

While the trend is positive, the report suggest many companies who are eligible are still not claiming R&D tax credits. There were nearly 7,000 first time applicants last year, and if your company was not one of them, your competitor may well have been.

Samantha Holloway, CEO of rdtaxcredit.org.uk, commented:

The outlook of these figures is undoubtedly positive, however there is still a lot to in relation to educating UK businesses about this Government incentive.

We often speak to business owners who simply have no idea this relief existed. If companies are not claiming this tax relief, they may not be innovating to the best of their ability.

 

How can rdtaxcredit.org.uk help?

At rdtaxcredit.org.uk, we understand that beginning to think about claiming R&D Tax Credits may be a little daunting. We want to help you through the process, to ensure you receive the financial reward that the Government wants to give you.

We offer a friendly and professional approach to R&D Tax Credits which includes:

  • A free no obligation initial review.
  • 100% success rate
  • 30 day quick turnaround

Contact one of our expert advisers today for a free initial review, and see if you can claim back some much needed tax relief.

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Figures reveal Northern Businesses are overlooking valuable R&D Tax Credits

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New official stats show that an abundance of Northern SMEs could be claiming R&D tax credits, with an average benefit of over £50k

Running an SME can be hard at the best of times. Small business owners have to handle an array of challenges including selling, delivering, financing, managing and growing their brain-child with little or no staff, while trying to make it a success all at the same time.

It is, therefore, a very pleasant surprise to any SME owner when an unexpected advantage comes along. The latest advantage comes in the form of R&D tax credits.

R&D tax credits were created in 2000 by the Government as an incentive for companies to invest in Research & Development. A staggering £21.4bn has been claimed in tax relief since then, in the form of 240,000 claims.

This, however, is only scratching the R&D tax credit surface, as a new Government report has revealed that thousands of Northern England SMEs are eligible for tax relief and are still missing out.

The R&D Tax Credits Statistics

Statistics released a fortnight ago show that £350m of R&D tax relief was claimed by northern companies during the 2016-17 fiscal year. This represents a 19% increase in the previous year, indicating that companies are beginning to understand the tax relief a little better.

The Number of Claims – UK-wide

RD Tax credits

So far there have been 39,960 claims for 2016-17, of which 34,060 are in the SME scheme. The number of claims has plateaued from the previous year, but the figures are still incomplete.

It is estimated that claims for 2016-17 will increase once the all of the data has been compiled, meaning it will be the highest since the tax relief began.

The figures clearly show that the number of claims has steadily grown over the past 17 years, with an SME’s claim valuing almost £54,000 on average – an amount which would be invaluable to any business.

The Total Money Claimed – UK-wide

rd tax credit

In all, Government stats show that, so far, £3.5bn of R&D tax relief support has been claimed for 2016-17.

It is estimated, with data revisions, that this will rise to the highest total the tax relief has seen in its eighteen years.

Regional R&D Tax Credit Statistics

In relation to Northern SMEs, there were a total of 7,305 claims, with a total value of £300m.

rd tax credits

*Numbers: actual
*Amounts: £ million

The figures show that many, many more SMEs in the North West, North East and Yorkshire & Humber could be claiming R&D Tax Credit.

What’s the catch with R&D Tax Credits?

There are many SMEs missing out on RD tax credits for a number of reasons. Many northern SME business owners are simply unaware of the tax relief, owing to lack of advertisement and promotion.

Some are underclaiming due to a lack of comprehensive understanding about some of the subtle details of the R&D guidelines. In addition to this, some SME owners believe R&D Tax Credits are only available for traditional research sectors.

Many SME owners that we have come across simply think it is too good to be true, and there must be a catch. This is leading to many company owners missing out on this legitimate financial reward for their valuable investment within their industry. The Government itself says of R&D Tax Credits:

R&D tax credits are a tax relief designed to encourage greater R&D spending, leading in turn to greater investment in innovation. They work by either reducing a company’s liability to corporation tax or by making a payment to the company.

Samantha Holloway, CEO of rdtaxcredit.org.uk, commented:

We are speaking to lots of local small and medium-sized enterprises who are not aware of the money that they are owed. 

The statistics show that less than five percent of SMEs that are potentially eligible to claim R&D tax credits have not made a claim.

We are looking to remedy this by educating businesses, and guiding them through the claims process, step by step.

How can rdtaxcredit.org.uk help?

At rdtaxcredit.org.uk, we understand that beginning to think about claiming R&D Tax Credits may be a little daunting. We want to help you through the process, to ensure you receive the financial reward that the Government wants to give you.

We offer a friendly and professional approach to R&D Tax Credits which includes:

  • A free no obligation initial review.
  • 100% success rate
  • 30 day quick turnaround

We also provide extensive information on our website should you wish to research R&D Tax Credits in further detail. We have information relating to individual industries such as:

If you would like to contact one of our experts for free initial advice, complete the quick enquiry form to receive a no-obligation review of your R & D Tax Relief claim.

 

Images sourced from:

https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/742661/Research_and_Development_Tax_Credits_Statistics_September_2018.pdf

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The Process For Claiming R & D Tax Credits

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The R & D claims process is part of the normal treatment of providing the necessary annual accounts information to HMRC, and the qualifying expenditure should be shown as an adjustment to the profit figure on which tax is calculated.

Only the qualifying figure is needed for tax purposes, but you should maintain a record of how that figure has been calculated, and be prepared to show back up documentation such as payroll and invoicing information.

As instructed by the HMRC web site you should also submit an explanation of why the work qualifies as R&D by describing the projects, explaining why they represent advances in science or technology, what the scientific and technological uncertainties were and how and when they were resolved. These explanations should be in layman terms.

  1. Understand the Guidelines and interpret them in order to see how they apply in your industry and your company. This is open to misunderstanding.
  2. Identify possible R&D projects, understand the R&D content through identifying the possible areas of scientific and technological advances or capability advances.
  3. Identify the scientific and technological uncertainties which were encountered in the projects in order to achieve the advances sought. Only work directly associated with resolving those uncertainties is qualifying R&D.
  4. Create a document which describes those advances and uncertainties and when and how they were resolved. This document should be written in layman’s terms.
  5. Calculate the expenditure incurred in doing the R&D in terms of direct labour, sub contracted labour and directly related consumable costs. See HMRC web site for details.
  6. Provide the correct qualifying costs to whoever handles your Corporation Tax returns.
  7. Answer any questions which HMRC want to ask in relation to technical qualification and costs.

If you want to discover how we can assist your business claim R & D Tax Relief please complete the quick enquiry form today.

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How Much Did You Pay for Help with Your R&D Tax Credit Claim?

If you are already claiming R&D Tax Credits, you should review your costs of making a claim periodically, since markets change and you may be paying too much in fees to one of the R&D Tax Credit specialist consultancies.

Usually the most important factor for a business is to understand the scope of what can be claimed in terms of eligible tax credit projects and then writing a technical justification to support your claim for R&D Tax Credits.

An R&D tax credit claim can include advances in science and technology to do things like…

  • Create a new product
  • Develop a new service
  • Design a new process such as to improve organisational efficiency
  • Adapting and developing existing software to create new ways of doing things
  • Building complex websites or web based applications
  • Integrating different technology platforms or devices involving complex systems integration
  • Creating innovative new software applications involving technology development
  • Designing or redesigning products or elements of a product – involving the innovative use of science or technology. This could be a new handle or a better lock or more efficient cleaning process so long as science or technology is used in an innovative way.

It can also include things like using science or technology in new and innovative ways to develop new ways to make and bake better pies or bread.

The government has produced a great informative pdf here. Well worth a read.

If you seek help or advice from a specialist you are likely to increase the value of your claim as evidence seems to suggest that many companies’ under-claim or worse still don’t claim at all because they have difficulty interpreting and applying the guidelines.

The technical justification needs to identify what projects come within the scope of R&D for Tax Credit purposes and explain in plain English why those projects fit into the guidelines for eligible projects.

In our experience there is no need for the R&D Tax Credit adviser to take on the role of submitting the Corporation Tax Computations which is what some specialist consultancies want to do.

We believe a better approach is for the R&D adviser to work with your existing accountants to support them and your finance manager in identifying eligible spend categories and in understanding what spend qualifies.

Whatever you are paying we can help you to review your expenditure to minimise the cost of making a claim, and if you think you may have overpaid we would like to hear from you.

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