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R&D Tax
Background to the scheme
Eligibility
Claim process
R&D tax credits are claimed as part of CT600 (Corporation Tax Return). Usually annual accounts and corporation tax returns are submitted together.
The additional information to provide HMRC is;
Resources
Getting help
Our view on the market for R&D services
Our experience is that the market for R&D services has become both crowded and commoditised over the past years. Boutique agencies are using the same checklists behind the scenes, many of which are available to accounting firms or businesses commercially.
In spite of this, however, many firms and freelancers are still using the lack of transparency to charge more than they should. We are highly sceptical of any provider charging large fees as a percentage of the total amount claimed.
We believe that businesses with a history of successful claims and good documentation are much better served by a flexible solution tied to expert time spent.
Where to go for help
Broadly startups have four choices. We have outlined our perception of the pros and cons of each below.
Disclosure: authors of this document work at Quantico.
R&D providers
Choice
How it works
Pros
Cons
DIY
If you have the time to invest there is nothing to prevent you from filing the claim yourself.
Accounting firms
The majority of traditional accounting firms will now process R&D claims for a fixed fee.
Boutique agencies or freelancer
Boutique agencies usually specialise in grant applications. They typically charge a % success fee.
Quantico
Based on in-house finance team model. We provide specialists for the number of days required. Typically 1-2 days Finance Business Partner and 0.5 day tax review.
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