Compile a submission
Companies are required to submit an R&D tax credit claim as part of their annual Corporation Tax return (CT600). The claim details the eligible R&D costs incurred during the accounting period. This must be accompanied by a technical report that gives details of the R&D carried out to justify the claim.
The steps necessary are listed by HMRC in this document.
The claim is made in arrears, that is in the period of up to 24 months after the end of the appropriate company financial year.
The types of activities that qualify are defined in CIRD81900 of the Corporate Intangibles Research and Development Manual. Or give us a call!
The claim consists of two parts, financial and descriptive.
For the financial claim the HMRC input requires details of direct costs, including personnel, materials, contractors (some types), equipment and other allowed direct costs for each ‘major project’. To this may be added a few allowed indirect costs.
For the descriptive document there is a format laid down by HMRC required for every claim from here onwards.
You can do this yourself, the detailed requirements are all on the HMRC website.
Or you can call us and use our over ten years experience to guide you right through the financial analysis, making sure all claim costs are optimised, and then to help you build the supporting claim document to ensure rapid approval of your claim.
