R & D Tax relief

[Impounded Car Insurance]

Hi there,

Does anyone have any experience of claiming R & D tax relief?

I'm looking in to doing this as we've had a system developed in house, can anyone provide any guidance or point to some useful guides please?

Thanks

 

[SteveHa]

Have a read of https://www.google.com/url?sa=t&rct...pleguide.pdf&usg=AOvVaw1kaE9-NWGl2bliHarvyRHu

 

[Paul Norman]

We have received an R & D tax credit for 2 of the last 3 tax years for our business.

Our accountant handled it, though. We did most of the work - writing up justifications and producing the numbers, but under the accountants guidance.

I think, without the accountant, I might not have achieved the credit!

 

[JCresswellTax]

I can recommend a specialist firm to deal with it, it is very difficult to deal with on your own and I wouldn't recommend it. Pm me if you want details.

 

[GillespieBS]

If the system that you have created is a fixed asset/capital item then chances are that you will not get any benefit from doing an R&D claim. Some of the specialists are saying that you get a capital allowance on it and therefore still charge you a percentage however you may have got this allowance anyway (Annual Investment Allowance) without paying any extra to an accountant.

 

[SteveHa]

@GillespieBS - The nature of the end product has no bearing on whether or no R&D relief or credit is available. This is determined entirely by the journey to get to the end product.

Provided there is a technical or scientific uncertainty to overcome that could not be easily deduced by a suitably qualified professional in the field, then the project will qualify for R&D. The issue of capital allowances relates to capital expenditure in the course of that R&D, which will not, typically, be the total of the costs. More often than not (and certainly consistent across the claims that I have prepared), the largest cost tends to be manpower (salaries, contractors etc.)

 

[Huque Chaudhry Associates]

Hi there,

Does anyone have any experience of claiming R & D tax relief?

I'm looking in to doing this as we've had a system developed in house, can anyone provide any guidance or point to some useful guides please?

Thanks

Hi - we have experience in R & D Projects through our partner company. They charge between 22 and 25% dependent on your project. Send a message through if of interest.

 

[Neil Lukins]

We work with various agencies that do all the work for you.

DM your details and I can get someone to call you to explain the process.

Neil

 

[Impounded Car Insurance]

Thanks for the input everyone!

 

[Popyzo]

I recently requested quotes for this. The best I got was 12%. I then managed to negotiate it down to a flat fee.

 

[Highland Spring]

12% is good, a lot of accountants charge 30% even!