“We DIY our Claim”
“Our Accountant does our claim”
A payment granted does not necessarily mean a Research & Development claim has been approved. Misinterpreting the guidelines could lead to an enquiry by HMRC.
If this leads to further enquiries for previous years resulting in downtime and a liability then this could even threaten a Company’s existence.
We are aware of cases where Business Owners have in their own words “successfully” claimed R&D tax relief and credits on a “do-it-yourself” basis. Some have even gone as far back as six years claiming these benefits. Nothing untoward here, until you understand what needless disruption can be caused by submitting a poorly presented claim.
There are many ways in which a claim can be poorly presented, from claiming too much in staff remuneration to claiming for other expenditure which isn’t allowable under the scheme. Therefore, you could be storing up a rather large liability by not taking specialist advice.
We work with many Accountancy firms who acknowledge the importance of working with a specialist in this rather complex sector, and as a result their clients have benefited immensely. We create supporting documents and records for each year of claim, which means all parties are prepared for HMRC clarification and/or investigation. We also remain on hand to assist our Clients with any such intervention.