Have you had an R&D tax credit claim challenged?

If so, STOP & THINK before you respond or agree to a meeting! The HMRC inspectors know their stuff, and will send you considered, polite questions seeking “clarification”. Be under no illusion that this is a “good cop, bad cop” approach, and although your answers may help the claim get … Read More

HMRC Publishes Latest R&D Statistics

HMRC has just published its annual report covering the usage of the R&D tax credit schemes, which covers claims made up to March 2018, and the scheme is continuing to grow with another increase of over 20% in claims on the previous year. We’re still digesting the detail in the … Read More

WOCO’s response to the consultation on preventing abuse of R&D tax credits

The government has been conducting a consultation on the proposed changes from the last budget to the SME R&D tax credit scheme. The proposal is to introduce a cap on the amount companies can claim as payable credits based on their payroll tax contributions. We analysed the proposed cap a … Read More

Claiming R&D Tax Credits as a Subcontractor

This article covers a poorly understood area where we have frequently seen companies miss out on the opportunity to benefit from R&D tax credits. If you are an SME working in a scientific or technical field, but have been told that you don’t qualify for R&D tax credits, you may … Read More

Grants vs R&D Tax Credits

This article will try to explain the issues around the interaction of grants and R&D tax incentives, and provide some guidance for those considering applying for grants, or for those who have already been awarded a grant and want to claim R&D tax credits.… Read More

How will Brexit affect R&D Tax Credits? Part 1

I should start this article by giving the short answer, which is that I’ve no idea! Given the complex nature of the current situation, it’s impossible to know anything with any certainty regardless of whether you are for or against exiting the EU. On the other hand, there are a few interesting elements that might affect R&D spending in general and R&D tax credits in particular.… Read More

Common mistakes that affect R&D claims

There are a number of subtleties to the process of claiming R&D tax credits that can reduce or completely eliminate the value of a claim. Whilst some are unavoidable, here is a list of things that can potentially make a significant difference to the claims made by SMEs.… Read More

R&D tax credits for manufacturing businesses

Since I’ve been handing R&D tax credit claims for a living, the companies I deal with the most are manufacturers, something that is also confirmed by the official statistics published by HMRC. Despite this, manufacturing is still an area where large numbers of companies are missing out on claims they … Read More

KTPs and R&D Tax Credits

Knowledge Transfer Partnerships or KTPs are a long established mechanism for collaboration between universities and companies, supporting innovation and transfer of capabilities from universities to companies. This article shows how to maximise your R&D tax credit claim when you have an active KTP.… Read More