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Are Engineering Firms making the most of Research and Development Tax Relief?

posted on 20/10/2017 in Other
By their very nature Engineering firms are overcoming scientific and technological challenges on a weekly if not daily or hourly basis, but do they know enough about the Reliefs that might be available to them. How do you think they could be encouraged to access this tax relief, without using their existing accountant who if they aren't claiming now won't help them in the future?
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Advice from the experts (2)
  • Duodrive Limited

    HMRC have a very user friendly process where one can pre-register an R&D project which ensures Advance Assurance for unto 3 years to obtain those tax credits. No need for any middle men and you get to dialogue directly within 15 days with a case worker who is appointed from within HMRC's specialist unit in Manchester.
  • The MPA Group

    Advance Assurance claims are not immune from an HMRC enquiry, and the penalties are severe. HMRC’s eligibility criteria are often misunderstood by companies or general accountants who fail to accurately identify eligible qualifying activity, which can result in enquiry. Using a general accountant to handle an R&D Tax Credit claim is much like trusting your GP to perform heart surgery. Expert knowledge is required to fully understand both the scheme and what activity qualifies. Filling the form in is easy. Knowing if your submission will survive a compliance check isn’t. Our analysts can identify when things like system integration protocols to reduce data search times or making a tool to resolve a carbon fibre machining delamination issue represent an advance or innovation. It allows us to maximise claim value for our clients in a safe and secure way. To find out more, feel free to visit us at stand N72.
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