Step 1 – Agree engagement terms
- Our specialist team will arrange an initial meeting to discuss your R&D requirements and review potential R&D activities for the relevant period.
- Following this meeting, we will provide you with a proposal tailored to your specific needs based on the information gathered.
Step 2 – Initial R&D assessment
- If necessary, a Phase I feasibility study will be conducted to ensure the key R&D requirements are met and that a valid R&D claim can be made, before proceeding with any formal submissions.
- An initial discovery meeting will be arranged with the relevant competent professional at the claimant company to discuss R&D guidelines in detail, and identify the qualifying projects undertaken during the relevant period.
Step 3 – Claim notification form
- Preparation and submission of claim notification (if required) - an online form to inform HMRC that the company intends to make an R&D claim for a specific period.
Step 4 – Collection of R&D information
- Our specialist team will work with your finance teams to gather all the necessary information, discuss and determine suitable methodologies, to complete the quantitative aspect of your claim.
- Once the financial aspect of the claim has been determined, technical calls will be arranged to discuss the qualifying activities with the relevant competent professionals in detail.
- Following these calls, we will prepare detailed project descriptions, referencing the R&D guidelines where applicable, and send these drafts for your approval.
Step 5 – Preparation of R&D deliverables
- We will begin to prepare the company’s comprehensive R&D report, utilising the information obtained during Step 4, and clearly outlining the evidence required for HMRC.
- In addition to the qualifying expenditure, and the detailed project descriptions, this report will include:
- an overview of the company,
- details of the methodologies developed throughout the process,
- details of the competent professionals involved in preparing the claim.
Step 6 – Approval of R&D deliverables
- The comprehensive R&D report, and associated Additional Information Form, will be sent to the company for review and approval. If there are any aspects of the R&D report that the company does not understand, we will arrange a meeting to address your queries in more detail, ensuring you fully understand what has been included within the R&D claim and why.
Step 7 – Submission of deliverables to HM Revenue & Customs
- Once approved, the documents will be submitted to HM Revenue & Customs. If Forvis Mazars are the corporation tax compliance provider, we will work seamlessly to incorporate the R&D claim into the corporation tax return, ensuring all relevant submissions and information are provided in advance of any statutory deadlines.
- If another corporation tax adviser prepares and submits your company’s corporation tax return, we will liaise with them to ensure the R&D claim is accurately incorporated into your return.
Step 8 – Continued support post-submission
- After submission, we will continue to support the company by corresponding with HM Revenue & Customs. This includes assisting with the receipt of the R&D benefit and working with our specialist Tax Dispute Resolution team to answer any questions that may arise.
Support with your R&D tax claims
Navigating the R&D tax claim process can be complex, but our specialist R&D tax team is here to assist you in preparing and submitting robust claims that minimise HMRC queries. With a proven track record across various sectors, we understand your industry, HMRC and tax regulations inside out. The senior staff you meet at the start of your project will be the same dedicated professionals working on it throughout.
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