Accountants: The Deadline For 31st December 2018 R&D Tax Claim is Fast Approaching
Everyone will be glad to see the back of 2020 but don’t wish the year away just yet! Many companies operate to a 31 December year end which means that any R&D tax relief claims for the 31 December 2018 accounting period need to be filed with HMRC by the end of the year. Yes, many of us are pining for the better days promised by 2021 – but use the next six weeks wisely! Your clients may be sitting on a significant cash repayment so it’s imperative that no stone is left unturned.
R&D tax relief is available to companies which are advancing technology through the resolution of technical or scientific uncertainties. This could manifest itself in the form of a product, device, service, process or material. Appreciable improvements to existing technology can also qualify. If you have clients which are involved in developing new technology or undertaking work which would not be considered readily deducible by a competent professional, there is potential for a claim.
Let YesTax do the talking
We’ll not waste time. We can discuss your client’s activity with the right people and assist in making a careful assessment of the company’s eligibility for the scheme.
If a client does not qualify, it is not a waste of time. It’s equally important for ineligible clients to understand why, and you never know what they may get up to in the future!
Following an introduction, we will:
- Diligently follow up with your client
- Explore and understand their business activity
- Assess their eligibility to claim R&D tax relief
- Identify the allowable expenditure and report back to you with the outcomes of the conversation
- The claim will be assembled in accordance with best practice and the expectations of HMRC
- We won’t make false promises or put client’s tax affairs at risk by submitting tenuous claims.
If you wish to discuss a potential client with YesTax, contact us now at hello@yes.tax or 0114 553 7850. Get reviewing those December year end clients now!