Claiming R&D Tax Credits is an amazing way for businesses to raise extra money. And, luckily for all there are now many specialists such as ourselves here at Enhance Consultants to assist.

Since the R&D Tax Credits scheme started over £34 billion has been paid out in R&D tax relief. Businesses within all types of industries have been able to make successful claims – with many businesses meeting HMRC’s criteria for qualifying research and development without even realising.

Although it is possible for company owners, or their accountant to make their claims themselves, there are many benefits of employing specialists to assist. Today we are going to list some of these benefits for you, so you can quickly determine whether you want to speak with one of our experts today.

Advantages of using a R&D Tax Credits Specialist

Saving you time and money

Using a R&D tax credits specialist company to make your R&D claim saves companies times, which means it also saves them money. It can take a lot of time to prepare an R&D claim, especially when looking to obtain the maximum benefits available. There are many aspects involved in preparing an R&D claim, and specialists can take care of every step of the journey for you, allowing you to focus on other important business aspects.

Maximising funding

One of the key advantages of using R&D specialists when claiming R&D tax credits, is that they can maximise the benefits companies receive from the scheme. Their specialists can quickly identify all the development work within a company that qualifies for R&D tax relief, often spotting eligible areas and projects that they would not realise were qualifying. To do this they may look through your accounts, interview your technical team, visit your premises and analyse your prototypes.

Providing technical expertise

R&D Tax Credits specialists can add technical expertise to claims. They have all the knowledge and skills to complete all the financial analysis and calculations involved. They can quickly identify if companies meet HMRC’s criteria for qualifying innovation. Not only this but they can also help companies to create and submit technical narratives. When these are created by specialists, they are clear and well-worded and can significantly improve the chances of R&D claims being accepted quickly. They can also reduce the chances of HMRC enquiries and compliance checks.

Reducing risks

Using R&D tax relief experts can significantly reduce the risk of facing an HMRC compliance checks. It is important to avoid these checks as they can be troublesome for many reasons. Firstly, they can delay R&D tax credits. But also they can damage relationships with HMRC. HMRC companies checks can even lead to some projects being rejected or companies being landed with big fines. When using tac relief experts to make claims they can file accurate, fully compliant claims to avoid any investigations being made.

Here to help

These are only some of the benefits of using specialists when making R&D tax credit claims too.  If you are interested in learning more about how Enhance Consultants can help you or would like to get the ball rolling and employ our specialists to assist you in obtaining the maximum R&D benefits, simply get in touch!

Our team are always happy to help.