R&D Tax Credits: Why they apply to you

A typical client’s success story

Many businesses think that Research & Development Tax Credits are not for them as they “don’t do R&D”

Here’s an example of why it does:

One of our clients, an SME in the environmental sector with 8 employees and a turnover of £700k, didn’t think R&D Tax Credits applied to them. After an initial qualifying meeting, completion of our templates and their accountants submitting the claim (with our guidance), they received a successful claim award of £44k after only four weeks.

Our experienced staff took our client through the simple three-stage process involved in our client’s journey to successfully gaining R&D Tax Credits.

  • Stage 1: We met with our client

Initially, the client’s perception was that R&D did not apply to them.

After a brief chat, we identified that our client had spent time over the last two years, investing time & resources into creating efficiencies in his processes which, from our experience, qualified as R&D expenditure. Namely:

  • To more efficiently manage their operations and their ability to turnaround a customer requirement within 24 hours.
  • To incorporate better staff management, customer relationship management, sales & marketing processes
  • To enable the handling of a larger volume of enquiry without increasing overhead costs.

At this point, an R&D opportunity was identified.

Having identified the R&D opportunity, the rest of the process became reasonably straightforward. Through the use of our bespoke templates and with the guidance of our R&D specialists, we quickly guided the client through their claim.

  • Stage 2: We prepared their claim

With minimal time and effort, using our templates and examples of previous successful claims provided:

  • The client prepared the technical documentation – our team of experts promptly reviewed and approved documentation provided.
  • The client then provided the financial documentation. For example, payroll, salaries, pensions etc.
  • On receipt, we calculated the estimated tax credit
  • Stage 3: We submitted their claim

The client’s accountant (with our assistance) processed the claim with HMRC, by amending his CT600 – Corporation Tax returns for the last two financial years.

All our client then had to do was wait for HMRC approval of our claim (success rate running at 95% plus) to be paid as a cash sum directly from HMRC to their bank account.

With over £2m successfully claimed for our clients , there’s no reason why this success story couldn’t be yours.

Talk to one of our R&D experts on 01292 388 031, email at info@amas.biz, or even come along to our office at 8 Miller Road, Ayr.

 

 Check your R&D Tax Credits eligibility